as reported on bloomberg asia open just now...
apparently reuters broke the news 2h ago
https://www.reuters.com/markets/deals/investor-group-launches-58-billion-buyout-bid-macys-wsj-2023-12-10/#:~:text=Dec%2010%20(Reuters)%20%2D%20An,with%20the%20matter%20on%20Sunday.
arkhouse & brigade capital mgt is offering $5.8B buyout of macy's.
is macy's a zombie?
The worst is yet to come. There's so many malls with a lot of empty stores and there's few traffic inside the malls. Macy's is one the few anchors stores inside this dead malls. They own the building and real estates at these malls.
I wouldn't be surprised if this investment company isn't privately run by Eddie Lampert of Sears fame. He bought the company and sold off all the real estate.
Yes it's over! Buying for the real estate. Macy's have so many old stores that are falling apart.
Eventually sooner or later it was about to happen. Get ready folks! Drastic changes are coming. Look at what happen to Sears and JCPenney when they were bought out.
Damage control has already started, we've been notified through the weekly communication that it's business as usual and basically not to worry. LOL.
It's a done deal......JG is getting his golden parachute! You all wondered why upper exec's were bailing out! They knew what was coming. Tony is going to lead the vultures to the prey. He'll get a golden parachute too. Start looking for other employment now, for those remaining. The severance packages will be non existent.
Why would they pass up on a juicy offer to get out of shootings & lootings!!??
Retail is a dying industry! I’m rooting for them to take the money & run!!
It's only an offer, but Macy's will want more then $5.8 B.