Arkhouse, Brigade Capital raise buyout offer for Macy’s to $6.9 billion, WSJ reports

(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)