Macy's gets director nominations from Arkhouse Management
The company had rejected the offer from Arkhouse and Brigade Capital on concerns over valuation, while it continues discussions for more information on deal financing. The push for board seats comes as the Bloomingdale's parent struggles with weak demand as customer cut back spending due to elevated inflation and high borrowing costs. "Arkhouse and Brigade have yet to provide any financing details ... of their proposal despite multiple opportunities to do so and instead ... Arkhouse has chosen to launch a proxy contest," Macy's said.