Investor group raises Macy’s buyout bid by nearly $1 billion

Arkhouse Management and Brigade Capital are raising their offer to buy Macy’s by almost $1 billion, in hopes of taking the department-store chain private. In a statement Sunday, the investor group said it was increasing its bid to acquire Macy’s M, +3.27%to $24 a share, or about $6.6 billion, up from a bid of $21 a share, or about $5.8 billion, that Macy’s board rejected in January, saying at the time that it lacked “compelling value.”Arkhouse and Brigade said their