Macy's terminates talks with Arkhouse and Brigade

Macy's has terminated talks with activist investor Arkhouse Management and Brigade Capital Management after months of tense negotiations, it announced Monday morning.

Why it matters: Activist groups were looking to take the retailer private for roughly $6.9 billion.

Zoom in: The U.S. department store operator said its board "unanimously determined to terminate discussions," claiming that Arkhouse and Brigade "failed" to provide financing certainty and a high enough offer.

• Macy's went on to say it will now focus on executing its "A Bold New Chapter" strategy.

Arkhouse and Brigade did not immediately respond to a request for comment.