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19 Retail Takeovers: Rumors Run Rampant

Stocks in this article: JAS

Macy's

After Macy's (M) reported better-than-expected third-quarter earnings, grumblings and murmurs that the department store could be taken private have begun to circulate among investors and analysts.

NASDAQ analyst Jay Heller told TheStreet that KKR and Carlyle Group could be interested, especially in Macy's international prospects.

Macy's Going Private?

Macy's has seen a tremendous turnaround over the past several months, and in the third-quarter it swung to an adjusted profit of 8 cents a share, handily topping estimates of 3 cents.

Last week, Macy's upped its outlook for the second half of the year, and now expects earnings of between $1.50 and $1.55 a share, from a prior outlook of $1.45 to $1.50 a share. For the year, Macy's is calling for a profit of between $1.94 and $1.99 a share, compared with a previous outlook of $1.89 to $1.94 a share.

Heller predicts Macy's could receive an offer of $34 a share, which would be a premium over its close on Tuesday of $25.22.

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