Macy’s Shares Rise After , Reportedly Receiving $5.8 Billion Buyout Offer.<br />According to a person with knowledge of <br />the situation, an investor group has offered <br />$5.8 billion to take Macy's private, Reuters reports. .<br />The group reportedly consists of <br />Arkhouse Management and Brigade Capital.<br />They want to buy any Macy's stock that they don't <br />already have for $21 per share, sources say.<br />That represents a 20.76% premium from the stock's <br />closing price of $17.39 on Dec. 8, Reuters reports. .<br />The buyout group is undoubtedly <br />interested in Macy's large real estate <br />portfolio, which has attracted activists <br />and potential buyers in the past, Morningstar analyst David Swartz, via 'The Hill'.<br />Upon news of the buyout offer, Macy's shares <br />were up 16% on Dec. 11, trading at $20.13.<br />The company's total real estate value is estimated <br />to be $8.5 billion, according to J.P. Morgan analysts.<br />That comes to $31 per share, which is less than <br />the investor group's offer of $21 per share.<br />However, Arkhouse and Brigade said <br />that they are willing to "raise the offer <br />subject to due diligence," Reuters repots. .<br />An investment bank has reportedly provided <br />a letter of support indicating its belief that <br />the group can secure financing for the deal
