Carl Icahn to Increase Investment in Federated

Share this article:

Federated Department Stores Inc. said Sept. 25 it has been notified by investor Carl Icahn that he plans to acquire $113.4 million to $500 million of additional shares in Federated.

The corporation recently converted more than 400 stores to the Macy's name. The stores were acquired as part of last year's $11 billion purchase of May Department Stores Co.

Shares of Cincinnati-based Federated had increased 2.88 percent by 2:30 p.m. yesterday to $42.85.

Mr. Icahn notified Federated about his plans for clearance under the Hart-Scott-Rodino Antitrust Improvements Act, which requires anyone who purchases more than $58 million in a company must report it to antitrust enforcers so the government can determine if the transaction poses an antitrust problems.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Complexity's What Marketers Got, Simplicity's What They Want

Complexity's What Marketers Got, Simplicity's What They Want

Customer insights managers want campaign management tools to remain easy to use, even as they up their games with multi-layered campaigns.

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.