Federated-May Merger Talks Reportedly Ended
Merger talks between May Department Stores Co. and rival Federated Department Stores Inc. reportedly have ended after the two retailers could not agree on how much Federated would pay for May.
Negotiations broke down last week between Cincinnati-based Federated -- owner of the Macy’s and Bloomingdale’s chains -- and St. Louis-based May, operator of Robinsons-May, Lord & Taylor and other regional department stores, the Wall Street Journal reported, citing unidentified people familiar with the matter.
May and Federated declined to comment.
May shares rose 24 cents to $32.10, while Federated gained 75 cents to $58. Both trade on the NYSE.
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