(Reuters) – Arkhouse Management and Brigade Capital Management have raised their bid to buy Macy’s for about $6.9 billion, the Wall Street Journal reported on Wednesday citing people familiar with the matter.
The new proposal is to acquire Macy’s stock Arkhouse and Brigade Capital do not already own for $24.80 each, up from $24 per share offered in March.
Arkhouse Management and Macy’s did not immediately respond to Reuters’ requests for comment.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)
