Arkhouse Management and Brigade Capital Management have offered to buy Macy’s for $5.8 billion, people familiar with the matter told CNBC on Sunday.
The offer values the retailer at $21 per share, according to the sources. Macy’s closed at just over $17 a share on Friday.
Arkhouse and Macy’s declined to comment. Brigade did not immediately respond to CNBC’s request for comment.
The Wall Street Journal first reported the buyout offer.
This is breaking news. Please check back for updates.