Macy's appoints two new directors; ends proxy contest with Arkhouse
) said on Wednesday it has appointed two independent directors to its board, ending a proxy contest with activist investor Arkhouse Management.
The department store chain said it continues to engage with Arkhouse and Brigade Capital Management regarding their revised proposal to buy out Macy's. In February, Arkhouse nominated nine director candidates just weeks after the retailer rejected the go-private bid. Arkhouse in March also said Macy's was in talks with the investment firm for opening its books for due diligence on the prospects of a higher offer.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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