July 30, 2004: May completes its acquisition of 62 Marshall Field’s stores and nine Mervyn’s units from Target Corp. for $3.24 billion.
Nov. 2004: Rumblings of merger talks between Federated and May officials surface.
Jan. 14, 2005: Eugene Kahn retires from May as chairman and ceo, after a controversial tenure.
Jan. 19, 2005: Merger talks between Federated and May heat up. May shares rise 9.2 percent while Federated shares lose 3.1 percent in trading that day.
Feb. 10, 2005: May reports a fourth-quarter profit decline of 20 percent, while revenues increase 12 percent.
Feb. 14, 2005: Federated said to be lining up retail partners for sell-offs of May properties in the event a deal is struck. May is said to be seeking a deal in the $40-a-share range; Federated more comfortable in the $36 range.
Feb. 25, 2005: Federated’s board converges in New York for a regularly-scheduled meeting, but a merger offer was expected to be at the top of the agenda.
Feb. 26-27, 2005: May’s board convenes in New York for meetings to iron out a merger with Federated.