More Fuel for May Takeover Speculation

New York City, Federated Department Stores chief Terry Lundgren yesterday didn’t deny that his chain was interested in acquiring May Department Store Co. Today, the Wall Street Journal reports that the two rivals are in talks to create a $30 billion department store chain. When asked about a possible merger, Lundgren told the audience at the National Retail Federation convention that speculation and rumors aren’t worthy of response. May became a subject of takeover speculation when CEO Gene Kahn abruptly resigned from the St. Louis-based chain last week.

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