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Macy’s receives $5.8 billion buyout offer
Posted on 12/11/23 at 7:42 am
Posted on 12/11/23 at 7:42 am
quote:
Arkhouse Management and Brigade Capital Management have offered to buy Macy’s for $5.8 billion, people familiar with the matter told CNBC on Sunday.
The offer values the retailer at $21 per share, according to the sources. Macy’s closed at just over $17 a share on Friday, down roughly 17% since the start of the year. The company’s shares were up 19% in premarket trading Monday.
Arkhouse, a firm that primarily targets real estate investment, and Brigade Capital, an asset management firm, would be willing to offer a higher bid based on due diligence, the sources said. The group would already be paying a premium for the department store, which has struggled to keep up with online competitors.
quote:
Macy’s has become an acquisition target as it grapples with sagging sales and competition not just from online upstarts, but also from brands that would rather sell their products directly to consumers than wholesale through a department store. Kohl’s faced a similar takeover bid in 2022 when it received multiple acquisition offers that it said undervalued its business.
LINK
Macy's fancies itself as an iconic American retailer similar to how Sears, Gimbel's, and Marshal Field's once saw themselves. But that doesn't really matter if Americans don't shop very much in malls or department stores anymore.
5
Posted on 12/11/23 at 9:07 am to dewster
Buy it
Break it down and sell for real estate
Profit?
Break it down and sell for real estate
Profit?
Posted on 12/11/23 at 10:17 am to Tshiz
quote:
Break it down and sell for real estate
How much real estate do they own? I figured most of their locations were leased in malls.
Posted on 12/11/23 at 10:28 am to dewster
Looking forward to next years Arkhouse’s Thanksgiving Day Parade
Posted on 12/11/23 at 2:04 pm to dewster
quote:
Arkhouse Management and Brigade Capital Management Christmas Parade
Boy that's a mouthful. twss
Posted on 12/11/23 at 2:39 pm to dewster
quote:
but also from brands that would rather sell their products directly to consumers than wholesale through a department store.
This is where the future seems to be. Nothing wrong with retail, but mostly for stores that are selling their own goods. The competition is just so fierce with online marketing I don't see how you can throw a middle man in there that has to make money also unless that middle man is just absolutely churning customers through the door like a Walmart or grocery store.
Posted on 12/11/23 at 3:41 pm to dewster
Arkhouse Management and Brigade Capital Management Thanksgiving Day Parade just doesn't have the same ring to it.
Posted on 12/11/23 at 9:49 pm to Hermit Crab
quote:
How much real estate do they own? I figured most of their locations were leased in malls.
Many anchors own their buildings.
Sears hung around as long as they did by selling their buildings. That cost them in the end but it temporarily papered over their bad management decisions.
Posted on 12/11/23 at 9:55 pm to LSUFanHouston
I read an article about how buying shitty smalltown malls can still be profitable. Sell outparcels in the parking lot to TGI frickruckers or Starbucks or whoever and then operate on the cheap, don't fix anything and collect rent from the remaining tenants.
This post was edited on 12/11/23 at 9:57 pm
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