Feds Continue To Delay Staples Buy Of Office DepotFriday December 18th, 2015 - 12:11PM
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Federal approval of Staples' acquisition of office superstore rival Office Depot remains on hold as the Federal Trade Commission has asked Staples to improve its offer to divest assets, Reuters reported on Thursday, December 17. Staples representative Diane Sullivan said the office superstore has offered to divest $500 million in commercial contracts, a move the FTC rejected as inadequate, the report said. In early December, the FTC filed a motion to stop the deal, saying Staples acquisition of Office Depot would hurt big customers that have national contracts to buy office supplies. The $6.3 billion deal between the office superstores was first announced in February. The report also noted that Canada's Competition Bureau has said that it would challenge the proposed deal. Tags: Office Depot • Staples • FTC • Federal Trade Commission • reuters • office • office superstores • assets • divestment • merger • acquisition • Housewares • Retail •
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As this industry approaches 2016 with as much resolve that it can muster from recent HomeWorld headlines, it is also a time to reflect on headlines that have shaded our lives the past year on a much deeper level than the neutral tones in the latest home product color forecasts.
