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Market
Will Macy's stock price recover to pre-announcement levels by December 31, 2024?
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Resolution / Starting Odds
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Story
Macy's Terminates Acquisition Talks with Arkhouse and Brigade, Stock Tumbles 12%
Jul 15, 2024, 12:36 PM
Macy's, Inc. announced on Monday that it has terminated discussions with Arkhouse Management and Brigade Capital regarding a potential acquisition. The decision was made because the revised proposal from Arkhouse and Brigade lacked certainty of financing and did not provide a compelling value. Despite months of engagement, the latest offer was $24.80 per share, but it was deemed non-actionable by Macy's board. Another offer was made at $24.00 per share. Following the announcement, Macy's stock tumbled 12% in pre-market trading.
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