The traditional US department store chain Macy's strongly rejects the acquisition offer of $5.8 billion from real estate investor Arkhouse and hedge fund Brigade Capital.

The board of directors of Macy's announced Monday night that the offer made by the group of investors is considered too low and not credible, due to doubts about the financing.

The offer from Arkhouse, presented in early December, corresponded to a stock price of $21. However, the investors had promised a significant increase if they were granted access to the company's financial information. However, Macy's refuses to grant these two investors access to this information.

Reasons for the rejection as stated by the board of directors include unusual preconditions in the financing, originating from investment bank Jefferies. The fact that the potential buyer must have experience in retail was also mentioned as a reason.

So far, there are no other potential buyers or offers that meet Macy's expectations. The company's stock price does not reflect its true value as more and more customers make their purchases online. Experts estimate that the 316 stores owned by Macy's themselves are worth between $7.5 to $11.6 billion.

To reduce costs, Macy's announced last week to cut 2350 jobs and close five out of 722 stores.

The stock price of Macy's rebounds at the New York Stock Exchange after the rejection of the takeover offer, closing temporarily 2.46 percent higher at $18.06. The future of Macy's remains uncertain as the company continues to face pressure to improve its profitability.