USA: May, Federated In Early Merger Talks – Paper
Preliminary merger talks that could create an industry giant with roughly $30 billion in annual sales are believed to be underway between two of the US's largest department-store chains - Federated Department Stores and May Department Stores. Although May and Federated have had similar discussions in the past, sources told The Wall Street Journal that the companies have made some progress in their latest discussion but not to the level where specific deal details have been covered.