Macy’s Opens Its Books to Suitors Arkhouse and Brigade

Macy’s Inc. has opened its books to Arkhouse Management Co. and Brigade Capital Management, the investment firms pushing to take over the famous US department store chain.

New York-based Macy’s has signed a confidentiality agreement with its suitors, according to a spokesperson for the company. Arkhouse and Brigade will now have access to certain information about the Macy’s business — a process known as due diligence.

Representatives for Arkhouse and Brigade declined to comment. The news was reported earlier on Tuesday by Reuters.

Shares in Macy’s jumped as much as 4% on Tuesday. The stock was up 2% to ...