The Canadians Come Calling

On a shopping spree for stores and skyscrapers

For sale: five huge American shopping centers, from New Jersey to Washington State, and 691 stores spread all over the country, including the famed Brooks Brothers and Bonwit Teller chains. No retailing experience necessary. Foreigners welcome.

Giant Allied Stores never ran such an ad and never planned to sell itself off -- certainly not to a Canadian real estate company. But last week, after resisting for two months, New York City-based Allied (1985 sales: $4.1 billion) agreed to become a subsidiary of Toronto's comparatively tiny Campeau Corp. (1985 revenues: $155 million). The price tag of $3.6 billion made it the biggest...

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