FTC Rejects Staples’ Revised Offer on Office Depot

Staples offered to give up $1.25 billion in commercial contracts to acquire Office Depot, but federal regulators have rejected it, the company said Monday. The Federal Trade Commission, which is suing to stop the $6.3 billion merger, declined comment on Staples’ claim. Staples said it will continue its court fight to acquire its competitor headquartered in Boca Raton. "The company is confident in its legal position and looks forward to a full and impartial judicial review of the matter," Staples said in a news release.