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CINCINNATI-Shareholders of Federated Department Stores, in an 81% vote, approved their $11-billion acquisition of May Department Stores Co. In New York City, May shareholders approved the merger as well, which will give them $17.75 in cash and 0.3115 shares of Federated for each of their stocks.

Company executives expect the transaction to close in the third quarter. The deal will create a combined company with nearly 1,000 department stores across the country. Federated operates about 450 stores in 45 states under the Macy’s and Bloomingdale’s name. St. Louis-based May, meanwhile, operates 487 department stores under the Famous-Barr, Filene’s, Foley’s, Hecht’s, Kaufmann’s, Lord & Taylor, L.S. Ayres, Marshall Field’s, Meier & Frank, Robinsons-May, Strawbridge’s and Jones Store names. The company also owns 243 David’s Bridal stores, 452 After Hours Formalwear units and 11 Priscilla of Boston shops in its Bridal Group.

One issue retail real estate landlords are facing is the possibility that the combined Federated-May entity could close stores in centers that house units from each company. In March, GlobeSt.com reported that there are 93 locations where the chains have two stores competing head-to-head.

Some analysts have predicted that the merger could lead to the closings of as many as 50 stores. But the deal will also expand Federated’s geographic reach. The company will enter 15 new states as a result of the acquisition and have stores in 64 of the country’s top 65 markets.

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