The FTC is reportedly planning to block the Staples Office Depot Merger to stop it from taking over all office supply for businesses.
According to New York Post, FTC regulators are looking to block the deal because they don’t want Staples and Office Depot to merge into the only nationwide supplier of office supplies to businesses. The current vote is reportedly two regulators for and two against the merger. Regulators have until Dec. 8 to decide if they want to block the merger.
If the current vote of two for and two against holds, then the FTC will do nothing about the Office Depot and Staples merger. However, it’s possible that one regulator could change their mind and they will block it. This will result in a lawsuit against the company. Staples is trying to avoid his by offering to send $600 million in back-end contracts to Essendant, an office supply wholesaler, reports New York Post.
Office Depot, Inc. is a global supplier of office products and services. The company was incorporated in 1986 with the opening of our first retail store in Fort Lauderdale, Florida. Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car.
The company has combined pro forma annual sales of approximately $16 billion, employs more than 56,000 associates, and serves consumers and businesses in 56 countries with more than 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, OfficeMax Grand & Toy, Reliable and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, DiVOGA, Ativa, WorkPRO, Realspace and HighMark.
Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in store, online or on mobile devices. Staples offers more products than ever, in categories such as technology, facilities and breakroom, furniture, safety, and medical, as well as Copy & Print services. Staples has been making it easy for businesses for 27 years with thousands of associates worldwide. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand.