Retail: Macy's gets buyout offer focused on real estate.

BUSINESSMacy's shares rose this week after the famed department store chain received a $5.8 billion buyout offer, said Suzanne Kapner in The Wall Street Journal. An investor group comprised of a global asset manager and a firm that "typically focuses on real estate investments" submitted a proposal to acquire the chain. One research firm estimates that Macy's owns about $6 billion worth of real estate, more than its total market capitalization. Its flagship Herald Square location in New York may "account for about a fifth of the value" of the real estate portfolio. [Extracted from the article]