Macy's dips after discussions with Arkhouse, Brigade Capital terminated

Nordstrom

15/07/2024 13:53

** Shares of department store chain Macy's  M.N  fall
11.4%to $16.91 premarket
    ** Co terminates buyout discussions with Arkhouse Management
and Brigade Capital Management
    ** Says revised proposal to buy Macy's lacks certainty of
financing and does not provide compelling value
    ** Peers Nordstrom  JWN.N  also down 4.1%, while Kohl's
 KSS.N  falls 2%
    ** Up to last close, M stock down ~5.1% YTD
    

 (Reporting by Arsheeya Bajwa in Bengaluru)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))