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Macy’s is using Joele Frank as it terminates talks with Arkhouse Management Co. and Brigade Capital Management regarding the takeover of the company.
The retailer says its board and management team “engaged in good faith with Arkhouse and Brigade for more than seven months since their initial outreach in December 2023 expressing interest in acquiring the company.”
It “expended hundreds of hours addressing Arkhouse and Brigade’s extensive diligence requests,” and provided “thousands of documents with a level of detail that went well beyond what is customarily required to obtain financing for a public company acquisition.”
Macy’s said since the suitors failed to deliver a “definitive, fully financed and actionable proposal” by the mutually agreed June 25 deadline, it decided to end the talks to focus on its “A Bold New Chapter” growth plan.
Joele Frank, Wilkinson Brimmer Katcher’s Leigh Parrish and Arielle Rothstein handle Macy’s.
Longacre Square Partners’ Scott Deveau and Joe Germani represent Arkhouse.
Longacre Square Partners represents H Partners Management, which is waging a proxy fight at Harley-Davidson.
Prosek handles GTCR’s announcement of the $24B sale of Worldpay, payments technology company, to Global Payments.
C Street Advisory Group handles the Chapter 11 of Publishers Clearing House as the home of the iconic “prize patrol” sheds its direct mail and magazine subscription businesses.
C Street Advisory Group handles Hooters of America as it declares Chapter 11 to pave way for a buyout led by founders of the casual dining chain.
Joele Frank works for Rocket Companies, fintech platform, that is acquiring Mr. Cooper Group, the No. 1 mortgage services provider, in a $9.4B equity deal. 
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