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From Times Staff and Wire Reports
Federated Allowed to Bid for Macy: Cyrus Vance, the court-appointed mediator for bankruptcy negotiations on R.H. Macy & Co., has given Federated Department Stores permission to propose a reorganization plan that calls for a merger of Federated and Macy. Vance said Federated can discuss its merger proposal with other Macy creditors and submit that reorganization plan to those creditors April 29.
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