Arkhouse has financing in place for a Macy's take-private, managing partner Kahane says

Group 1 - Arkhouse has secured financing to take Macy's private with a bid of $5.8 billion, but faces challenges due to lack of cooperation from Macy's management on due diligence [1] - Arkhouse and Brigade Capital made an unsolicited bid of$21 per share for Macy's, representing a premium of over 32%, but this offer was rejected by Macy's board [2] - Macy's board expressed skepticism about the feasibility of Arkhouse and Brigade's proposed financing and declined to enter into a non-disclosure agreement or allow due diligence to proceed [2] Group 2 - Arkhouse indicated a willingness to increase its bid above the original $21 per share, contingent upon Macy's management agreeing to a mutual non-disclosure agreement [2] - The response from Macy's management in the coming days will be crucial for Arkhouse's next steps in the acquisition process [1]