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COPYRIGHT 2005 The Dallas Morning News
Byline: Maria Halkias
Feb. 28--In a deal that would send ripples throughout the retail industry, Federated Department Stores Inc., parent of Macy's, is expected to report today that it has reached an agreement to acquire May Department Stores Co., parent of Foley's.
Both companies' boards of directors have approved the deal, a person familiar with the matter said Sunday evening. Published reports valued the deal at $10.4 billion.
Representatives of Federated and May either declined to comment or didn't return messages.
The combined companies would form a $30 billion-a-year powerhouse with 1,000 stores from coast to coast....
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