(Reuters) – An investor group seeking to buy Macy’s is raising its offer by nearly $1 billion after the department store chain rebuffed its prior proposal as too low, the Wall Street Journal reported on Sunday.
Arkhouse Management and Brigade Capital Management are now offering to acquire the Macy’s stock they don’t already own for $24 per share, or $6.6 billion, the report added, citing people familiar with the matter.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Mark Porter)
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