Feds Want to Know More About Federated-May Merger
St. Louis – The Federal Trade Commission wants more information from St. Louis-based May Department Stores and Federated Department Stores about the proposed merger of the two retailers.
Also, the Securities and Exchange Commission plans to review the registration statement filed March 30th by Federated in connection with its planned buyout of May.
Federated and May say they will respond promptly to the FTC's request, which was expected because of the scope of the proposed merger, and to any comments from the SEC.
The retailers expect the merger to be completed in the third quarter of 2005.
Cincinnati-based Federated has about 112,000 employees and more than 450 stores in 34 states.
May has 130,000 employees at 491 stores in 46 states.