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Federated-May vote set for July 13th

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the Famous-Barr store in downtown St. Louis (UPI file photo)

By AP/KWMU

St. Louis, MO – Shareholders will vote on July 13th on whether Federated Department Stores should buy St. Louis-based May Company.

Both companies have set that date for their annual stockholders meeting. May's meeting will be in New York; the Federated meeting will be in Cincinnati.

The $11 billion deal was announced in February as a way to create a retailing powerhouse that can better compete against Wal-Mart and upscale merchants.

But it also has some St. Louis leaders worried about the effects of losing another St. Louis-based company. Particular worries have been voiced over the future of the downtown Famous-Barr store.

The merger requires approval by the Federal Trade Commission and is expected to be completed in the third quarter.

May operates Lord &Taylor, Famous-Barr, The Jones Store, Filene's and other regional department stores. Federated runs the Bloomingdale's and Macy's chains.

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