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CINCINNATI-Federated Department Stores Inc. is terminating the$5-billion bridge financing facility it used for the acquisition ofthe May Department Stores Co. in August of last year. The facility,which was issued with a syndicate of four banks, was stated tomature on one year from the date of acquisition.
As planned, the company has resumed its share repurchaseprogram. At the end of the first quarter of 2006, Federated hadoutstanding authorization to repurchase up to $670 million of itsshares in the open market.
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