Carl Icahn Seeks to Increase His Stake in Federated Department Stores

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Includes: M, RTH
by: Lon Juricic

In a press release, Federated Department Stores Inc. (FD) said it has been notified by investor Carl Icahn that he plans a filing under the Hart-Scott-Rodino Antitrust Improvements Act for clearance to acquire $113.4 million to $500 million of additional shares in Federated.

"We're glad Mr. Icahn sees value in our company and is increasing his investment," said Terry J. Lundgren, Federated's chairman, president and chief executive officer. "While our stock hit an all-time high four times in the past three weeks, we continue to see significant opportunity ahead as we maximize the Macy's and Bloomingdale's brands nationwide."

Related: The Street: Icahn Shops for More Federated Shares • Competitors: Dillard's Inc. (NYSE:DDS), Saks Inc. (NYSE:SKS), Target Corp. (NYSE:TGT) • ETFs: Retail HOLDRS ETF (NYSEARCA:RTH) has 4.73% of its assets invested in FD • More 13d posts by Lon Juricic • Comment on this article

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