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Wednesday, September 27, 2006

Icahn Seeks to Buy $113.4-$500M More Federated Department (FD) Shares

From 13D Tracker

In a press release, Federated Department Stores, Inc. (NYSE: FD) said that 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."

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