Proxy Contest at Macy’s
Arkhouse Management Co. LP will put up 9 director candidates
Macy’s, Inc. announced today that its Board of Directors has received notice from Arkhouse Management Co. LP that it has nominated nine individuals to stand for election to the Macy’s, Inc. Board of Directors at the Company’s 2024 Annual Meeting.
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These director nominations by Arkhouse follow the December 1, 2023 unsolicited, non-binding proposal from Arkhouse and Brigade to acquire all of the outstanding shares of the Company for $21.00 per share in cash.
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Arkhouse and Brigade have yet to provide any financing details that would enhance the actionability of their proposal despite multiple opportunities to do so, and instead of attempting a constructive dialogue, Arkhouse has chosen to launch a proxy contest.
https://www.businesswire.com/news/home/20240219775604/en/Macy’s-Inc.-Announces-Receipt-of-Director-Nominations-from-Arkhouse
As noted in Macy’s letter above, this follows the board’s rejection of the unsolicited takeover offer in late January:
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