Staples Office Depot Failed Merger

Washington reuters no.

Staples office depot failed merger. It has been one week since a federal judge blocked the merger between office depot odp get report and staples spls and at this point it doesn t appear either company has a chance to survive. District court tuesday sided with the federal trade commission. Former office depot ceo on blocked staples deal former office depot ceo steve odland said the ftc s decision only served to protect large corporate office supply buyers and seemingly failed to.

A federal judge granted a preliminary injunction tuesday that had been requested by the federal trade commission which. Because of antitrust concerns prompting the office supply companies to say. 1 office supply chain staples spls o and smaller rival office depot inc odp o said on tuesday they would terminate their planned merger after a u s.

Former office depot ceo steve odland who still owns shares in the company told cnbc last week that office depot s failure to merge with staples could spell the end of the company. Text 74 washington a federal judge on tuesday blocked the planned merger of rivals staples inc. And office depot inc.

New york office depot and staples are calling off their plans to merge. But the deal terminated for the following year after the ftc objected saying that it would decrease competition for office products. In 1996 staples and office depot announced a merger.