M&A Deal Summary

May Department Stores Company Acquires Marshall Field

On June 10, 2004, May Department Stores Company acquired retailer Marshall Field from Target for 3.2B USD

Acquisition Highlights
  • This is May Department Stores Company’s 1st transaction in the Retail sector.
  • This is May Department Stores Company’s largest (disclosed) transaction.
  • This is May Department Stores Company’s 1st transaction in the United States.
  • This is May Department Stores Company’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2004-06-10
Target Marshall Field
Sector Retail
Buyer(s) May Department Stores Company
Sellers(s) Target
Deal Type Divestiture
Deal Value 3.2B USD

Target

Marshall Field

Minneapolis, Minnesota, United States
Marshall Field & Co. a high-end department store chain.

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Buyer(S) 1

Buyer

May Department Stores Company

St. Louis, Missouri, United States

Category Company
Founded 1910
Sector Retail
DESCRIPTION

May operated 491 department stores under the names of 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 The Jones Store, as well as 239 David's Bridal stores, 449 After Hours Formalwear stores, and 11 Priscilla of Boston stores. May was formed in 1910.


DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Target

Minneapolis, Minnesota, United States

website


Category Company
Founded 1902
Sector Retail
Employees450,000
Revenue 109.1B USD (2023)
DESCRIPTION
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.

Target is a general merchandise retailer serving the US market. The Target brand opened its first store in 1962 and currently operates more than 1,800 stores. Target was formerly known as Dayton Hudson Corp. which was originally founded in 1902. Target is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 2 of 5
Sector (Retail) 2 of 4
Type (Divestiture) 2 of 5
State (Minnesota) 2 of 4
Country (United States) 2 of 5
Year (2004) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1990-04-20 Marshall Field

Minneapolis, Minnesota, United States

Marshall Field & Co. a high-end department store chain.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-29 Mervyn s

Hayward, California, United States

Mervyn's was a retail department store that was formed in 1949. The retail chain featured national brands and carried a broad selection of items - from apparel to electronics.

Sell $1.7B