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.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions