The Knot Buys Back 10.7% Stake From Macy’s For $37.7 Million

The Knot Inc. said earlier this week that they are buying back stake in their company from Macy’s. They are buying 10.7% stake back for $37.7 million. The shares were bought back at a closing price of $10.26. Macy’s CFO Karen Hoguet said that Macy’s achieved their strategic goals as a shareholder and will continue to partner with The Knot. “Macy’s and its predecessor department stores have been long-time, valued shareholders of The Knot and our subsidiary,” said Knot Chief Executive David Liu said in an interview with the WSJ.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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