What: Arkhouse Management and Brigade Capital Management have increased their bid to acquire Macy's to approximately USD 6.9 billion, as reported by the Wall Street Journal.

Why it is important: This raised offer underscores the strategic value and potential seen in Macy's by the investors and could significantly impact the future direction and ownership of the department store chain.

Arkhouse Management and Brigade Capital Management have raised their bid to purchase Macy's to about USD 6.9 billion, according to sources cited by the Wall Street Journal. This new offer of USD 24.80 per share, up from the previous 24 per share proposal in March, represents a 43% premium over Macy's closing price on December 8, when initial deal discussions surfaced. Shares of Macy's saw a 1.1% increase in after-market trading following this news. The buyout proposal follows Macy's agreement in April to include two of Arkhouse's nominees on its board. The revised bid indicates continued negotiation and strategic maneuvering by the activist investors to gain control of the iconic retailer.

Arkhouse and Brigade Capital raise buyout offer for Macy's to USD 6.9 billion