Terms of the deal include a 32% premium to share price of $16 but still a ways away from Macy’s record high of $70 a share in 2015.

• Macy’s stock (ticker: M) surged just about 20% after the Wall Street Journal reported that a consortium of investors has put forward a buyout offer. The group, consisting of asset managers Arkhouse Management and Brigade Capital, have pieced together a $5.8 billion offer that aims to take the storied retail chain off the public markets and into private hands.
  
• The terms of the deal include an acquisition price per share of $21, or a 32% premium to the share price before the bid was made on December 1. It’s not too flattering, considering Macy’s was worth over $70 a share back in 2015. The buyers have acknowledged that and have vowed to raise their bid after due diligence.
  
• Macy’s operates around 500 stores and owns a number of brands, including retailer Bloomingdale’s and skin-care chain Bluemercury. For the last fiscal year, Macy’s brought in $24.4 billion in revenue, of which $1.2 billion were profits. The two sides are in the negotiation phase and more details are likely to surface soon.