Retailers Federated, May resume talks

Federated Department Stores Inc. is once again in talks to buy rival May Department Stores Co., the Wall Street Journal reported on Friday.

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The talks are reaching a “more serious stage” and as of Thursday the companies were about $2 a share apart on a deal price, the newspaper said, citing people familiar with the matter.

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The two companies could not immediately be reached for comment.

May and Federated have held informal merger discussions in recent months as the two department store chains sought ways to expand their geographic reach, gaining more market power with vendors and slashing overlapping expenses, sources familiar with the situation have told Reuters.