"Concerns and Hopes: The Macy's Takeover Saga"
Macy's rejected a $5.8 billion buyout offer, citing a lack of evidence of a viable financing plan, leading to concerns among its wholesale partners about the company's future and the potential impact on their business relationships. Jan Kniffen, CEO of J Rogers Kniffen WorldWide, emphasized the partners' desire for Macy's to continue as an ongoing operating company with plenty of stores, expressing concerns about a potential outcome similar to Sears. Additionally, there is speculation about the market value of Macy's real estate, which is estimated at $8.5 billion.