Tuesday, April 26, 2016

Office Depot finances hurt by stalled Staples takeover

Image for the news resultOffice Depot blamed disappointing first-quarter financial results on the delayed takeover by Staples.

The buyout by the rival office supply retailer, first announced more than a year ago, has been stalled as The Federal Trade Commission seeks to block the $6.3 billion deal. The FTC has said a combination of Staples and Office Depot would dampen competition and lead to higher office supply prices for businesses.

Office Depot said Tuesday that it expects a judge to make a decision about the deal on May 10.. . . more

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