FTC continues probing Staples-Office Depot merger

antitrust-institute-staples-office-depot-mergerBy Josh Kosman – September 3, 2015
Staples and Office Depot may soon get schooled by the Feds on their attempted merger.

The Federal Trade Commission in the last several days has sent out a second round of subpoenas to Staples and Office Depot customers after already conducting a full review of the merger proposal, three sources close to the situation told The Post.

“The [FTC] staff must have serious concerns,” one of the sources noted. “This means they are trying to build a case so they are prepared to file a suit” to stop the deal.

FTC Commissioner Edith Ramirez in May sent the first questionnaires to their customers, but now is going through a second volley and making compliance mandatory.

Staples in February reached a $6.3 billion deal to buy Office Depot in a cash-and-stock deal valued at roughly $11 a share.

Office Depot’s shares have fallen on regulatory worries, closing down 4.1 percent Thursday, to $7.32.

If the FTC sues to block the merger, Office Depot’s shares will likely fall to under $6, a source said.

Source: FTC continues probing Staples-Office Depot merger | New York Post

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