Investor group proposes taking department-store chain private
- Macy’s shares surge nearly 20% in premarket trading
- Investor group makes $5.8 billion bid to take Macy’s private
- Bid represents a premium of nearly 21% to Friday’s closing price
- Shares currently up 19% to $20.69 in premarket trading
Shares of Macy’s have soared nearly 20% in premarket trading following news of a $5.8 billion buyout bid. An investor group, including Arkhouse Management and Brigade Capital Management, has proposed buying the remaining Macy’s shares for $21 each, representing a premium of almost 21% to Friday’s closing price. The bid has pushed Macy’s shares up 19% to $20.69 in premarket trading, signaling investor optimism about the potential deal.
Factuality Level: 8
Factuality Justification: The article provides specific information about an investor group making a bid to take Macy’s private, including the names of the firms involved and the proposed price per share. The information is attributed to ‘people familiar with the matter,’ which suggests some level of reliability. However, without further confirmation or official statements, there is still a possibility of inaccuracy or change in the situation.
Noise Level: 7
Noise Justification: The article provides information about an investor group making a bid to take Macy’s private, which is relevant. However, it lacks analysis of long-term trends or antifragility. It also does not hold powerful people accountable or explore the consequences of the decision. The article does provide some evidence and data on the bid and the premium offered, but it does not provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Macy’s
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to a financial topic as it discusses an investor group’s bid to take Macy’s private, which has resulted in a significant increase in the company’s stock price.
Public Companies: Macy’s (M)
Key People:
Reported publicly:
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