Macy’s Appoints Two New Directors Ending Proxy Contest With Arkhouse

Macy’s said on Wednesday it has appointed two independent directors to its board, ending a proxy contest with activist investor Arkhouse Management.

In March, Arkhouse and Brigade Capital Management raised their offer to acquire Macy’s stock they don’t already own for $24 per share after the company rejected an earlier bid made in December.

The department store chain said it continues to engage with Arkhouse and Brigade Capital…