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Retailer Federated to Buy Rival May for $11 Billion

Federated Department Stores plans to acquire May Department Stores for more than $11 billion in cash and stock. Federated owns Macy's and Bloomingdale's among other retail chains. May operates Lord & Taylor, Marshall Field's and others. The combined company will have about 1,000 stores and nearly $30 billion in annual sales.

Copyright 2005 NPR

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.