Cash Infusion for Macy’s OKd: The Federal...
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From Times Staff and Wire reports
Cash Infusion for Macy’s OKd: The Federal Trade Commission said it waived antitrust concerns and will allow two major investors in R. H. Macy & Co. to raise their equity stakes in the famed Manhattan retailer. Loews Corp. and Mutual Series Fund are contributing to a previously announced equity infusion of $100 million. They needed FTC antitrust approval for investors planning to acquire at least 15% of a company’s outstanding shares or stock or assets of at least $15 million. The remainder of the $100 million will be contributed by GE Capital and Taubman Investment Co., Macy’s two biggest investors, or their affiliates.
