Macy’s Buyout Could Take a Miracle on 34th Street

A suitor has shown up at Macy’s door. As any shopper knows, though, wanting to buy something is one thing and being able to afford it is another. 

Real-estate focused investing firm Arkhouse Management and global asset manager Brigade Capital Management on Dec. 1 submitted a proposal to purchase Macy’s stock they don’t already own, The Wall Street Journal reported on Sunday. Their offer price is $21 a share, 21% higher than where Macy’s stock closed last Friday.