Abstract: The retailer, which has struggled to increase its sales as shoppers cut back, acknowledged that it had received an unsolicited buyout offer, which it said “lacks compelling value.”
Lead Paragraph:
Macy’s rejected a $5.8 billion takeover bid late Sunday that valued the struggling department store chain at roughly 20 percent above its closing share price on Friday, but suggested it was “open to opportunities.”
Source: The New York Times
Category: Business
Sub Category: DealBook
2024-01-22T15:28:28+0000
By Lauren Hirsch