Macy’s gets director nominations from hedge fund Arkhouse Management

By Thomson Reuters Feb 20, 2024 | 6:46 AM

(Reuters) – Department store Macy’s said on Tuesday hedge fund Arkhouse Management had nominated nine individuals to stand for election as directors at its 2024 annual meeting.

The move kickstarts a proxy battle between the two parties, after Macy’s rebuffed a $5.8 billion proposal in January by Arkhouse Management and partner Brigade Capital Management to take the company private.

(Reporting by Savyata Mishra in Bengaluru)