Would A Macy’s Buyout Be A Miracle On 34th Street?
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 11 December 2023
⏱️ 30 minutes
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| 0:00.0 | Is it time for a miracle on 34th Street? Motley Full Money. I'm Deidro Willard here with Motley Full analyst |
| 0:24.7 | Jason Moser. Jason, how is your weekend? |
| 0:26.5 | It was a good weekend, Deidor. How about yours? |
| 0:30.1 | Pretty good. I'm starting to, every Sunday though. I start looking at the laptop. I start wondering what the news is. |
| 0:37.0 | You know, last few Sundays have been pretty good for me as a news junkie and did not disappoint this weekend. |
| 0:44.4 | The hot rumor, the rumor that is sort of dominating the stock market today too |
| 0:49.5 | is that Macy's might be acquired and taken private for 5.8 billion. |
| 0:54.0 | This is with a couple of private equity funds, |
| 0:56.2 | including Ark House Management and Brigade Capital Management. |
| 1:00.1 | I mean, the deal would be for around a premium of 32% for shareholders based on when the deal was announced |
| 1:05.9 | or was it like brought up at the end of November. |
| 1:11.2 | Stock has been battered around for a bit so that that is a premium based on where we were but not not from where the stock has been over time but then today the stock has been up practically to the level of $21 a share. Is this a deal that |
| 1:25.6 | shareholders should want? If I were a shareholder, which I'm not, but if I were I |
| 1:30.1 | would think so, yes. I mean we've talked about Macy's I think for for a number of |
| 1:35.1 | years on these on these shows and we've kind of always just come back to the same |
| 1:39.6 | ultimate conclusion is just it's a business that just remains challenged because it maybe it's not really necessarily a Macy's world anymore right? |
| 1:48.1 | I think Ron Gross years back asked the question |
| 1:51.7 | Does the world really need J.C. Penny, right? |
| 1:54.4 | When we were talking about J.C. Penny's woes, I feel like that question more or less |
| 1:59.6 | applies here to at least to a degree, right? |
| 2:01.8 | I mean, Macy's has more or less been treading water here over the last several |
| 2:05.1 | years trying to figure out the most sensible path forward I mean when you look at |
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