Macy's ends buyout talks with investor group, shares slump
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Macy's (M) PT Lowered to $17 at Evercore ISI
July 15, 2024 3:21 PM EDTEvercore ISI analyst Michael Binetti lowered the price target on Macy's (NYSE: M) to $17.00 (from $22.00) while maintaining a In Line rating.
The analyst comments "We increased our valuation for Macys stock when the activists launched knowing that the perceived success of an activist transaction would be... More
Macy's stock drops as merger talks with Arkhouse and Brigade collapse
July 15, 2024 9:29 AM EDTMacys (NYSE: M) fell ahead of the market open on Monday after the company announced it had ended acquisition talks with Arkhouse Management and Brigade Capital Management.
The Macys Board stated it "has unanimously determined to terminate discussions with Arkhouse and Brigade that have failed to lead to an actionable proposal with certainty of financing at a compelling value."
The Board intends for the management team to return its full focus to enhancing shareholder value through the execution... More
