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RETAILING

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From Times Staff and Wire Reports

Federated Shareholders OK Macy Takeover: The company’s acquisition of R.H. Macy & Co. was approved at a special shareholders meeting. Federated Department Stores Inc. said 98% of shares voting approved the takeover, which is expected to be completed in late December or early January. The Macy and Federated boards agreed in July to the merger, with Federated assuming $4.1 billion in Macy debt. The shareholder approval leaves only two steps before the merger is effective: approval of Macy’s creditors and confirmation of the agreement by U.S. Bankruptcy Judge Burton Lifland. The confirmation hearing is scheduled for Dec. 8. The merger’s effective date is likely to be in late December or January.

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