Shares up 8% in premarket trade (Il Sole 24 Ore Radiocor) - New York, 05 Jul - Shares in Macy's jumped in premarket trade after a report said an investor group was looking to buy the department-store chain had raised its offer a second time.

Arkhouse Management, a real estate-focused investing firm, and Brigade Capital Management, a global asset manager, raised their bid by about 300 million dollars in recent days, the Wall Street Journal said, citing people familiar with the matter.

The two investment companies are looking to buy Macy's stock they don't already own for 24.80 dollars a share, or roughly 6.9 billion, the WSJ said, citing the people.

In March, the investors boosted their offer to 24 dollars a share following a previous offer of 21.

At 1221 GMT Macy's shares were up 8%.

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(RADIOCOR) 05-07-24 14:27:14 (0394) 5 NNNN