Macy's (M) rejected a $21 per share acquisition offer from private equity firms Arkhouse Management and Brigade Capital Management. In fact, this news should have leaked to some extent last week, as M's stock price dropped abnormally last week and performed significantly worse than its peers after the privatization offer was announced.This is very unusual.Generally, when there are acquisition or privatization offers, the stock price will be restricted. So, after the formal rejection by Macy's shareholders, the stock price actually rose. It looks like it will rise further.Arkhouse and Brigade had previously threatened to directly approach shareholders with the acquisition of the chain store and stated that they were highly motivated to complete the acquisition of Macy's and were prepared to
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