Macy’s, Inc. is opening its books to Arkhouse and Brigade Capital, a real estate-focused investment firm, the department store operator told Reuters on Tuesday. The two companies have entered a ‘confidentiality pact’ which allows Macy’s to share sensitive information about the business.
Arkhouse and Brigade have made a $6.6 billion bid to take Macy’s private.
The move to take the massive retail company private might, according to Yahoo! Finance, “dramatically change the retail landscape in the United States.”
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Following Reuters’ reports, Macy’s shares jumped 2.5%, XM writes.
Macy’s, Inc. stock is up 9.01% year to date.
Macy’s, Inc. is a holding company of department stores, including the eponymous Macy’s, which has more than 500 locations across North America, and Bloomingdale's, a luxury department store with locations in the US, United Arab Emirates, and Kuwait.