Judge Says No To Staples-Office Depot Merger

FTC Logo Over Staples
Wikipedia

After months of suspense, a federal judge blocked the proposed merger of Staples and Office Depot due to antitrust concerns in the office supply sector, and the two companies say they’ll give up on the $6B deal.

Judge Emmet G. Sullivan’s decision backs the FTC’s allegations that the two superstores' combination would mean less competition and higher prices for large corporations that do bulk purchasing of office supplies.

Shares of the two office suppliers plunged on the news, with Office Depot stock dropping 37% to $3.82, and Staples falling 19% to $8.41, the Wall Street Journal reports.

The final nail in the deal's coffin comes nearly two decades after it was first proposed in 1997, when the FTC had similar concerns. It looks like the second attempt didn’t help much. Third time’s the charm? [WSJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

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

Properties Owned By REIT Accused Of Fraud To Be Auctioned Off

LS Power Raises $6B To Capitalize On Data Center Power Demand

DHS Buys 3 More Detention Facilities From The Geo Group For $950M

CRE Finance Sentiment Index Falls To 3-Year Low As Economic Fears Mount

M Core Extends Its Retail Shopping Spree

Oprah-Backed Health Food Chain Files For Bankruptcy, Seeks To Exit Leases