DONE DEAL: May Department Stores Co. has completed its acquisition of Marshall Field’s from Target Corp. The $3.24 billion deal was financed with $2.2 billion of long-term debt and $1 billion in short-term debt and cash, the company said in a statement. May’s acquisition included 62 Marshall Field’s stores, nine Mervyn’s locations, inventory, customer receivables and distribution centers. With the acquisition completed, May now operates 497 department stores under the Filene’s, Lord & Taylor, Kaufmann’s and Marshall Field’s nameplates, among others.
This story first appeared in the August 2, 2004 issue of WWD. Subscribe Today.