The investor group trying to purchase Macy's, Inc. (NYSE:M) has boosted its offer for the department store a second time to just under $7 billion, according to report. Investment firm Arkhouse Management Co. LP and asset manager Brigade Capital Management, LP have raised their bid for Macy?s to roughly $6.9 billion, or $24.80 a share, The Wall Street Journal reported, citing people familiar with the matter.

That?s about $300 million higher than the group?s March offer, which valued the shares of Macy?s that the group doesn?t already own at $24 a share. A representative for Arkhouse declined to comment. Macy?s and Brigade didn?t immediately answer Barron?s request for comment confirming the report.

Arkhouse and Brigade first placed an unsolicited bid on the department store in December, offering $21 a share. Macy?s board of directors rejected that offer. Arkhouse then launched an activist campaign against Macy?s, nominating nine new board directors.

Macy?s settled its proxy fight in April by agreeing to appoint two of Arkhouses? nominees to the board.