Private-equity firm challenges Macy’s board with director nominations
- Private-equity firm Arkhouse Management has nominated nine people for election at Macy’s annual meeting
- Last year, Arkhouse and Brigade Capital proposed to acquire Macy’s for $21 per share in cash, but the offer was turned down
- Macy’s accuses Arkhouse of launching a proxy contest instead of engaging in constructive dialogue
- Macy’s will evaluate the Arkhouse candidates and provide its recommendation in its proxy statement
- Macy’s will release its fourth-quarter and full-year results on Feb. 27
- Macy’s stock decreased by 0.3% in premarket trading on Tuesday
Private-equity firm Arkhouse Management has nominated nine people to stand for election at Macy’s annual meeting. This comes after Arkhouse and Brigade Capital’s failed attempt to acquire Macy’s last year. Macy’s accuses Arkhouse of launching a proxy contest instead of engaging in constructive dialogue. Macy’s will evaluate the Arkhouse candidates and provide its recommendation in its proxy statement. The company will also release its fourth-quarter and full-year results on Feb. 27. In premarket trading, Macy’s stock decreased by 0.3% on Tuesday.
Factuality Level: 8
Factuality Justification: The article provides a straightforward report on Macy’s situation with private-equity firm Arkhouse Management, including their nomination of nine people for election at the annual meeting and the previous proposal to acquire the company. The information is presented in a factual manner without digressions, sensationalism, or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about Macy’s, including details about a private-equity firm’s nomination of board members and a previous acquisition proposal. It stays on topic and supports its claims with statements from Macy’s and Arkhouse Management. However, the article lacks in-depth analysis, antifragility considerations, and actionable insights, which prevents it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: Macy’s stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to Macy’s financial performance and the nomination of candidates by Arkhouse Management for election at Macy’s annual meeting. There is no mention of an extreme event.
Public Companies: Macy’s (M)
Private Companies: Arkhouse Management,Brigade Capital
Key People: Drew Angerer (Getty Images Photographer)
Reported publicly:
www.marketwatch.com 
