RETAILING

Macy to Meet With Suitor: The board of R.H. Macy & Co. has agreed to meet with representatives of Federated Department Stores to review a Federated proposal for merging the two retail chains. Macy, which is operating under Chapter 11 bankruptcy proceedings, is expected to submit a detailed reorganization plan June 30. Under the Macy plan, the New York-based retailer would remain an independent company. Macy continues to favor its own plan, but the company’s board will examine Federated’s merger proposal at its July 1 meeting with Federated executives, sources said. Macy’s holdings include Bullock’s and I Magnin. Federated operates the Bloomingdale’s chain.