"It's always better to make a bid when things are confused," corporate governance expert Charles Elson said. "[And] it's harder to defend during a transitional period."
December 14, 2023 at 08:32 AM
4 minute read
The original version of this story was published on Corporate Counsel
An investor group has sprung an unsolicited, $5.8 billion takeover bid on Macy’s at a highly awkward time for the department store giant—when it’s between chief legal officers.
Elisa Garcia retired Oct. 31, wrapping up seven years as the New York City-based company’s legal chief. But her successor, Tracy Preston, isn’t coming on board until Jan. 8.
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Macy’s store inside the Towson Town Center shopping mall in Baltimore. Photo: Diego M. Radzinschi/ALM
