Investor group increases bid to buy Macy's to over $6 billion

An investor group has offered another bid to buy out the department store retailer Macy’s, this time offering over $6 billion.

The offer by Arkhouse Management and Brigade Capital would be to purchase Macy’s shares for $24 a piece, equating to about $6.6 billion. The investor group’s previous offer to acquire Macy’s, which was rejected, would have purchased the retailer’s shares for $21 a piece, or roughly $5.8 billion.