Staples-Office Depot Merger in Jeopardy: Regulators Ready to Block $6.3B Union

Tripp Whetsell, Bisnow NY

Federal regulators are having second thoughts about Staples $6.3B-plus bid to buy rival Office Depot.

Sources tell the New York Post that regulators are uneasy about the merger, citing concerns about making Staple’s the nation’s sole office supplier serving big corporations and government clients. “They are ramping up for litigation,” one inside source said.

If the deal—first announced last February—gets the kibosh, it wouldn’t be the first time. The commission previously blocked a merger between the two office supply retailers in 1997, successfully arguing the dynamic duo would substantially weaken competition at the retail level.

The FTC officially has until Dec. 8 to make its decision. Office Depot plans to close 400 stores by the end of 2016 whether the merger goes through or not. [NYP]

Continue reading this story with a free account

Log in or register
Related Topics: FTC , Office Depot , Staples
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

The Bridge-To-Bridge Bet Is Holding Off CRE's 'Day Of Reckoning' — For Now

Augmentation, Not Replacement: How AI Platforms Are Streamlining Front Desk Teams

Lawmakers Punt On Stripping Approvals From 15 Projects In Data Center Alley

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

HUD Launches Investigation Into Wells Fargo's Efforts To Support Black Homeownership

Holographic Zoo Leases 51K SF Coconut Grove Building For First Location

Delaware Statutory Trust Fundraising Jumps 27% From 2025

Hines Spends $170.5M On Mixed-Use Portfolio In Dallas' Bishop Arts District

Bank OZK Shares Drop After Citi Flags $915M Mortgage Concern

Local Investor Pays $30M For Block 37 In Heart Of Downtown Chicago

Soaring Yields Strand REITs In M&A No-Man's-Land

How UK Investment Giant L&G Plans To Grow Its U.S. Multifamily Holdings