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Article: MERGER MANIA MAKES FACTORS NERVOUS.(merger of Federated Department Stores and May Department Store Co.)
- Article from:
- WWD
- Article date:
- February 9, 2005
CopyrightCOPYRIGHT 2005 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ross Tucker
NEW YORK -- Factors, companies that take responsibility for a firm's receivables for a fee, are skeptical about any benefits to their vendor clients in the event Federated Department Stores and May Department Store Co. agree to merge into a retailing behemoth.
Thomas Pizzo, president and chief executive officer of Wells Fargo Century, said a potential merger would cause some suppliers to see an immediate rise in their sales concentration levels, which are sales to their top two or three retailers.
For Pizzo, a Federated-May deal would have similarities to the union of Kmart Holding Corp. and Sears, Roebuck & Co., which is ...