$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

By Peter Fearon, Newser Staff

Posted Jul 19, 2007 4:50 AM CDT

(Newser) – Shares in Macy's soared amid reports of a pending $24-billion buyout plan by KKR and Goldman Sachs, reports Bloomberg. Stock rose $3.06—7.6%—to $43.09 after Women's Wear Daily reported the news. The Wall Street firms would pay $52 a share—a 30% premium on Wednesday's close, according to the report.

"There is asset value there so it is reasonable that private equity would be looking at it," a fund manager told Bloomberg. But a sale is by no means certain. "We think management would prefer to remain independent rather than subject Macy's to the risks of a leveraged buyout," said a Standard& Poors analyst.

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$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

OTHER STORIES ON OUR RADAR

Macy's Summer Sale?

private equity • Goldman Sachs • Kohlberg Kravis Roberts • KKR • acquisition • Macy's • buyout

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

KKR Buyout Spree Hits a Snag

Traditional investors tapped out; equity firm looking elsewhere

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

Markets Drop as KKR Unit Delays Payment

Concern about liquidity in the US has investors selling off in Asia

FCC OKs $24.7B Alltel Buyout to Private Group

But wireless carrier's new owner faces "unnecessary" restrictions, commish says

Credit Jitters May Put KKR Offering on Ice

Private equity firm denies reports its IPO will be delayed

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$24B Buyout Buzz Boosts Macy's Shares

KKR and Goldman considering offer

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OTHER STORIES ON OUR RADAR

Macy's Summer Sale?

private equity • Goldman Sachs • Kohlberg Kravis Roberts • KKR • acquisition • Macy's • buyout

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

KKR Buyout Spree Hits a Snag

Traditional investors tapped out; equity firm looking elsewhere

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

Markets Drop as KKR Unit Delays Payment

Concern about liquidity in the US has investors selling off in Asia

FCC OKs $24.7B Alltel Buyout to Private Group

But wireless carrier's new owner faces "unnecessary" restrictions, commish says

Credit Jitters May Put KKR Offering on Ice

Private equity firm denies reports its IPO will be delayed

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?