Retail News

Is Macy’s on the block?

New York Post 02/01/2017

Terry Lundgren, chairman and outgoing CEO of Macy’s, Inc., is feeling out prospective buyers in an effort to avoid a battle over seats on the company’s board with activist investor Jeffrey Smith’s Starboard Value hedge fund, according to unnamed sources cited by the New York Post. Starboard has pushed Macy’s to unlock the value of the company’s real estate holdings since it acquired a stake in 2015.

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