Federated Sidesteps Rumor Question
New York City New York City , Amid speculation that Federated Department Stores might be interested in a major acquisition—for instance Dillard Inc. or May Department Stores Co.—Federated CEO Terry Lundgren told the audience at the National Retail Federation convention that speculation and rumor aren’t worthy of response.
His comment, when speaking at a session this morning: “I think we’re supposed to acquire every store in America. That is speculation and rumor, and we can’t and won’t respond to speculation and rumor.”
May became a subject of takeover speculation when CEO Gene Kahn resigned from the St. Louis-based chain last week.