Staples Office Depot Merger 2019

In attempting to contextualize the staples news i did a memory refresh back to when an antitrust action prevented the merger of staple and office depot several years back.

Staples office depot merger 2019. Washington a federal judge on tuesday blocked the planned merger of rivals staples inc. A federal judge on tuesday blocked a 6 3 billion proposed merger of staples and office depot dashing another huge deal and handing the obama administration one more antitrust victory. For the second quarter ended june 30 sales were up 4 percent in its business solutions division to 1 3 billion and operating income increased 5 percent to 67 million.

But the ftc rejected the retailers argument that they needed to merge and took them to court in washington d c. The ftc issued an administrative complaint and authorized staff to seek a preliminary injunction to enjoin the transaction pending the results of the administrative proceeding charging that staples inc s proposed 6 3 billion acquisition of office depot inc. Staples now shielded from public scrutiny by its private ownership will be harder to gauge although office depot continues to provide insight through its quarterly reports.

Because of antitrust concerns prompting the office supply companies to say they will. Would significantly reduce competition nationwide in the market for consumable office supplies sold to large business customers for their own use. Federal trade commission has approved of staples proposed acquisition of b2b office supply wholesaler essendant reports in the wall street journal said this.

And office depot inc.