May and Federated talks resume

The on-again, off-again merger talks between May Department Stores Inc. and Federated Department Stores Inc. are on again, according to a published report.

The Wall Street Journal, citing unidentified sources familiar with he matter, reported Friday that Federated and May resumed negotiations by telephone this week and, as of Thursday, were about $2 a share apart on a deal price.

The Journal reported on Tuesday, again citing unidentified people familiar with the matter, that negotiations broke down between Cincinnati-based Federated—owner of Macy’s and Bloomingdale’s chains—and St. Louis-based May, operator of Lord & Taylor, Famous-Barr, The Jones Store, Filene’s and other regional department stores.

The May board was prepared to negotiate a deal before the dialogue ended after the price emerged as the sticking point, according to the previous report.

Follow JCK on Instagram: @jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine
JCK logo

Log Out

Are you sure you want to log out?

CancelLog out