Sunday, February 27, 2005

WaPo: Federated to Buy Rival May

Federated Department Stores to Acquire Rival May. The article states that the official announcement will be tomorrow. The sale price is reported to be $35.50 for each share of May, to be paid in a combination of cash and stock. Other news reports are calling the price around $36, but are not as specific.

This is big news for Federated. Let us all hope this will be good news for the City in that the National HQ stays here and maybe even expands.

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