Focus expected to be on the "dot plot" for any clues to number, timing of any cuts this yearNEW YORK - Macy's Inc has agreed to open its books to Arkhouse and Brigade Capital, people familiar with the matter said, a potential breakthrough in the investment firms' $6.6 billion bid to take the U.S. department store operator private.
Having access to such due diligence could enable Arkhouse and Brigade to secure debt commitments to finance the deal, the sources added. The firms have so far only secured a letter from investment bank Jefferies Financial Group stating it is highly confident it will be able to provide debt for the deal.The firms have also provided commitments for the equity portion of their bid. Their equity partners include Fortress Investment Group and One Investment Management US.
Arkhouse has also mounted a board challenge against Macy's, seeking to replace a majority of directors by naming nine candidates for election to the 14 member board. It intends to push ahead with its challenge even as the two sides are holding discussions, a source familiar with the matter said. Reuters reported on Tuesday that Macy's rival Nordstrom was also in deal talks, as that department store operator's founding family revived a previously abandoned plan to take the company private.Down over 20% from all-time highs, BCE stock offers you a tasty dividend yield in 2024. But is the TSX dividend stock a good buy? The post Should You Buy BCE Stock for its 8.6% Dividend Yield? appeared first on The Motley Fool Canada.