Macy’s Investor Group Raises Buyout Offer Again, WSJ Reports

Arkhouse Management Co. and Brigade Capital Management have raised their buyout offer for Macy’s Inc. to about $6.9 billion, the Wall Street Journal reported, citing people familiar with the matter.

The investors are offering $24.80 for Macy’s shares they don’t already own, according to the Journal. A previous offer, announced in March, was $24 a share. That was an increase of an earlier $21 offer in December.

A spokeswoman for Macy’s declined to comment.

Macy’s shares, which have dropped 11% this year, closed at $17.93 on Wednesday.

The new buyout offer will force Macy’s board to weigh whether ...