FTC Rejects Staples' Concession In $6.3B Office Depot Deal

Law360, New York (December 21, 2015, 10:16 PM EST) -- The Federal Trade Commission has rejected an offer by Staples to amend its $6.3 billion acquisition of Office Depot Inc. in an effort to appease the federal agency’s wariness over the deal, Staples announced on Monday.

The office supply retailer said it had offered to divest up to $1.25 billion of commercial contracts to ease the FTC’s concerns that the deal would hinder competition and lead to higher prices, but said the federal agency did not accept the concession and didn't respond with a counteroffer. The...
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