Macy's Stock Plunges After It Ends Arkhouse, Brigade Buyout Talks

Key TakeawaysMacy's on Monday said it had ended negotiations with activist investor Arkhouse Management and Brigade Capital Management after finding their latest buyout offer "not compelling."The latest offer of $24.80 per share followed bids of$21 per share in December and $24 per share in March.Shares of Macy's swooned in intraday trading Monday. After months of negotiation, Macy’s (M) on Monday said it had ended talks with would-be buyers Arkhouse Management and Brigade Capital Management. The announcem ...