Macy’s receives $5.8 billion buyout offer, sources say

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People wait in line outside Macy’s before opening on “Black Friday” in New York City on November 24, 2023. The retail sector’s efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual “Black Friday” shopping day followed by the newer “Cyber Monday.” (Photo by Yuki IWAMURA / AFP) (Photo by YUKI IWAMURA/AFP via Getty Images)
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Arkhouse Management and Brigade Capital Management have offered to buy Macy’s for $5.8 billion, people familiar with the matter told CNBC on Sunday.

The offer values the retailer at $21 per share, according to the sources. Macy’s closed at just over $17 a share on Friday.

Arkhouse and Macy’s declined to comment. Brigade did not immediately respond to CNBC’s request for comment.

The Wall Street Journal first reported the buyout offer.

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