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.