What’s next for Macy’s after buyout bid rejection

Macy's (M) rejected a $5.8 billion takeover bid from Arkhouse Management and Brigade Capital Management investment firms on the grounds that the groups "failed to provide evidence of a viable financing plan." The firms offered $21 per share for the stock, of which they did not yet own. Questions now arise as to what comes next for the retail giant. Jan Kniffen, J Rogers Kniffen WorldWide CEO, joins the Live show with Yahoo Finance Reporter Brooke DiPalma to discuss Macy's rejection of a buyout offer and what it means for the company going forward. For what comes next, Kniffen says: "The question is does the other side come back and offer more? Does someone else come in and offer more? And is there someone that can offer a better financing opportunity? Because one of the complaints here was when you're all done, you're only going to put 25% of the equity in and all the rest is going to be borrowed. We're going to be way too levered and we know what leverage does to retail companies. It's very destructive to retail companies." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino