Macy's stock rises on report of possible bid

Shares of Macy's Inc. rose more than 12 percent on Wednesday after an unconfirmed report that private equity firm Kohlberg Kravis Roberts & Co. was considering a bid for the department store chain.

The online edition of Women's Wear Daily magazine, citing sources, said KKR, which has filed for an initial public offering, was partnering with Goldman Sachs Group on an offer valued at $52 a share, or about $24 billion, which may or may not exclude Macy's debt.

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- Posted: 2007-07-19 10:01:53

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