[WSJ: Investors Raise Macy’s Buyout Bid](https://www.wsj.com/business/deals/investors-raise-macys-buyout-bid-4e4b728b?mod=hp_lead_pos1)
The following is an AI assisted summary of the article:
**Investor Group Seeks to Buy Out Macy’s with Enhanced Bid**
\* An investor group led by Arkhouse Management and Brigade Capital Management seeks to acquire Macy’s, raising their earlier buyout offer by nearly $1 billion.
\* The new $24 per share offer represents a substantial premium over Macy’s current stock price.
\* Macy’s previously rejected the group’s initial $21 per share proposal as undervaluing the company.
**Challenges and Transformation at Macy’s**
\* Department stores like Macy’s struggle with declining sales due to competition from online retailers and shifting consumer preferences.
\* Macy’s is undergoing a transformation led by new CEO Tony Spring, which includes store closures, investments in its remaining locations, and expansion of its higher-end chains.
\* Despite the turnaround plan, analysts remain skeptical about Macy’s long-term prospects.
**The Battle for Control**
\* The investor group is frustrated with Macy’s resistance and remains committed to acquiring the company.
\* The group believes Macy’s would be better positioned for success as a private company.
\* The investors have secured financial backing and are open to further increasing their offer if given access to due diligence.
