Arkhouse, Brigade raise Macy’s buyout bid to $6.6 billion

 After receiving a rejection from Macy's for a previous bid that was deemed too low,,,

 real estate investment firm Arkhouse Management and Brigade Capital Management have reportedly increased their offer.

 The companies have raised their offer to buy Macy's stock from $21 per share to $24 per share, a 14% increase.

 Company shares are valued at $6.6 billion in the current offer, which is a 33% premium to Friday's closing price of $18.01.

 Through the sale of the company for a large premium, we maintain our offer of an attractive alternative solution.

 According to Arkhouse, this would result in substantial value and quick liquidity for Macy's stockholders.

 "The Macy's Inc Board will carefully review and evaluate the latest proposal," Macy's stated in a separate statement.

 The department store operator rejected the offer from the two investment firms in December of last year to purchase the shares of Macy's that they did not already own for $21 per share.

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