Staples Ready to Offer FTC More Assets to Win Office Depot
Staples Inc. is ready to offer additional concessions to resolve U.S. antitrust concerns that its proposed takeover of Office Depot Inc. — which would leave one national office-supply chain — would threaten competition, according to two people familiar with the matter. Representatives from Staples and Office Depot are meeting this week with Federal Trade Commission officials ahead of a Dec. 8 deadline for the agency to decide whether to approve the $6.11 billion deal, one of the people said. Under the merger agreement, the companies said they would sell Office Depot assets with revenues of up to $1.25 billion to win antitrust approval. In negotiations with the FTC, the company has already offered to divest about half that amount, according to the second person.