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How many new members will join Macy's board by the end of 2024?
3
Resolution / Starting Odds
No changes • 25%
1-2 new members • 25%
3-4 new members • 25%
More than 4 new members • 25%
Official announcements from Macy's or financial news outlets (e.g., Reuters, Bloomberg, CNBC)
Story
Macy's Terminates $6.9B Buyout Talks with Arkhouse and Brigade, Shares Drop 15%
Jul 15, 2024, 01:05 PM
Macy's, Inc. announced on Monday that it has terminated discussions with Arkhouse Management and Brigade Capital Management regarding a potential $6.9B buyout. The decision was made after months of engagement failed to produce a viable proposal with secure financing. The revised offer of $24.80 per share was deemed non-actionable by Macy's board. Following the announcement, Macy's stock tumbled 12% in pre-market trading and later dropped 15%. Macy's cited a lack of certainty over financing and compelling value as reasons for ending the talks.
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16 • 25%
More than 16 • 25%
Less than 16 • 25%
Other • 25%
Arkhouse Management • 25%
Brigade Capital • 25%
Another Company • 25%
No Acquisition • 25%
No new appointments • 25%
1 new member • 25%
2 new members • 25%
3 or more new members • 25%
Remain at 11 members • 25%
Increase to 12 members • 25%
Increase to 13 members • 25%
Decrease to 10 or fewer members • 25%
0 • 25%
1-4 • 25%
5-7 • 25%
8 • 25%
CEO change • 25%
CFO change • 25%
Other executive changes • 25%
No significant changes • 25%
Major overhaul • 25%
Minor changes • 25%
No changes • 25%
Other • 25%
Majority of board replaced • 25%
Minor changes to board • 25%
No changes to board • 25%
Other • 25%
Majority Elliott-backed members • 25%
Minority Elliott-backed members • 25%
No Elliott-backed members • 25%
Mixed composition • 25%