Federated to buy Fingerhut

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Federated Department Stores, Cincinnati, agreed to buy catalog company Fingerhut Cos., Minneapolis, in a cash and debt transaction valued at about $1.7 billion. The move will bolster Federated's Internet and catalog businesses, including Bloomingdale's by Mail, Macy's by Mail and Macys.com. The purchase price is a 33% premium on the Fingerhut stock price.

Copyright February 1999, Crain Communications Inc.

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