Activist investor Jana Partners takes stake in Macy's, urges spin-off of digital biz

Activist investor Jana Partners takes stake in Macy's, urges spin-off of digital biz

- Activist investor Jana Partners has taken a stake in Macy's and sent a letter to the department store chain's board Wednesday, urging it to separate its e-commerce business, a person familiar with the matter told CNBC. - Jana has said it expects a standalone digital business would be worth a multiple of Macy's current market value, which is about $7 billion. - Such a separation would mimic a similar one from the high-end department store operator Saks Fifth Avenue. Activist investor Jana Partners has taken a stake in Macy's and sent a letter to the department store chain's board on Wednesday urging it to separate its e-commerce business, a person familiar with the matter told CNBC. The person said Macy's online business has already drawn interest from firms that …
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