May-Federated Reportedly Differ Over Price
New York City, Price has emerged as the primary sticking point as Federated Department Stores explores the possible takeover of May Department Stores, The Wall Street Journal reported today. The newspaper said that while Federated’s CEO Terry Lundgren met recently with May’s acting CEO John Dunham, there are no signs suggesting a deal is upcoming, and the two differ over the price May would accept.
A Bigger Best Buy
Minneapolis, Best Buy Co. plans to open 73 new stores in its fiscal year beginning Feb. 27, plus two Future Shop stores in Canada. By February 2006, the chain plans to have 688 Best Buy and Magnolia stores in the United States and 144 Best Buy and Future Shops in Canada.
The Finish Line Completes Acquisition
Indianapolis, The Finish Line closed the deal to acquire The Hang Up Shoppes, which does business under the name of Man Alive, for $12 million in cash, plus a potential earnout of up to $6 million in cash.