Merger of Federated and May On February 28, 2005, Federated Department Stores, Inc., announced that they would acquire the May company for $11 billion. To help finance the May Company deal, Federated agreed to sell its combined proprietary credit card business to Citigroup. The merger was completed on August 30, 2005 after an assurance agreement was reached with the State Attorneys General of New York, California, Massachusetts, Maryland and Pennsylvania.
Merger of Federated and May On February 28 2005 Federated Department Stores Inc announced that they would acquire the May company for $11 billion To help finance the May Company deal Federated agreed to sell its combined proprietary credit card business to Citigroup The merger was completed on August 30 2005 after an assurance agreement was reached with the State Attorneys General of New York California Massachusetts Maryland and Pennsylvania