Ian Ritter is national online editor for GlobeSt.com/RETAIL.

CINCINNATI-Federated Department Stores' $11-billion acquisition of May Department Stores will likely result in the disposition of some of the purchased units, said Federated executives yesterday without revealing numbers. Those closings and other charges will likely cost Federated $1 billion over three years.

Banc of America Securities retail analyst Dana Cohen has said the merger could result in the closing of 50 stores, a relatively small number for what will become a 950-store empire. REIT analyst Ross Nussbaum, also at Banc of America, points out in a report that 10% of malls are owned by REITs. Says Nussbaum: "We expect the mall REITs to see little to no negative short-term impact and to benefit longer term from this merger."

For more on the merger, click here.