Staples, Office Depot Scrap Merger After Judge Blocks Deal
Facebook Facebook Twitter Twitter LinkedIn LinkedIn Email Email 0 Comments Comments
Staples and Office Depot said Tuesday they're scrapping their planned $6.3 billion merger after a federal judge blocked the deal, saying the government had made the case that the combination would likely hurt competition in office supplies. The Federal Trade Commission had sought to block the merger of the last two national office-supply chains. It contended the deal would allow the combined company to dictate the price of supplies, especially for corporate customers that buy in bulk.