Macy’s Adds Two Arkhouse Nominees to Board, Deal Talks Continue

Macy’s Inc. named two new directors nominated by activist investor Arkhouse Management Co., which agreed to end its effort to seek majority board representation as it attempts to acquire the department-store operator.

Richard Clark and Richard Markee will join the board and its finance committee that oversees acquisition proposals, according to a statement from the retailer Wednesday. Macy’s is “continuing to engage” with Arkhouse and Brigade Capital Management on their proposal to acquire the company, the company said.

The Macy’s board will be expanded to 15 directors after Wednesday’s appointment. The company also added real estate investor Douglas Sesler to ...