In January 2024, Macy’s rejected the offer, citing "lack of compelling value" and concerns over the certainty of the group's financing.
Arkhouse responded by launching a proxy battle to replace nine of Macy's 15 board members and raised its bid to $6.6 billion ($24 per share) in March 2024. wwd macy's buyout
Macy's, Inc. Terminates Discussions with Arkhouse and Brigade In January 2024, Macy’s rejected the offer, citing