Arkhouse, Brigade raise Macy's bid to $6.6 billion

Cars parked in front of the Macy's store at Bay Fair Mall on February 27, 2024 in San Leandro, California.

Justin Sullivan | Getty Images

Arkhouse Management, a real estate-focused investment firm, said Sunday that it and Brigade Capital Management had raised their bid for Macy's after the department store chain rejected their previous proposal as too low.

The companies are now offering to acquire Macy's shares they don't already own for $24 per share, about 14% more than their previous offer of $21 per share.

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