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Will Macy's stock price recover to pre-buyout termination levels by the end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Stock price data from financial markets (e.g., NYSE, Yahoo Finance, Bloomberg)
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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