"Macy's Rejects $5.8 Billion Takeover Bid, Leaves Door Open for Future Offers"

Macy's rejected a $5.8 billion takeover bid from Arkhouse Management and Brigade Capital, stating that it "lacks compelling value," but expressed openness to opportunities. The bid, which valued the struggling department store chain at roughly 20 percent above its closing share price on Friday, has raised questions about the bidders' ability to finance the deal and potential for additional suitors to emerge. With pressure to improve its business amid declining sales, Macy's remains open to potential offers, but faces challenges in the retail sector and concerns about the financial feasibility of such deals.