Framingham’s Staples Inc. yesterday said it will scrap its proposed $6.3 billion merger with rival Office Depot after a federal judge ordered a temporary halt to the deal, to allow a regulatory review by the Federal Trade Commission.
Staples immediately announced
strategic moves that it will pursue as a stand-alone company, including
$300 million in cost reductions by the end of 2018, closing at least 50
stores this year, increasing its focus on mid-market North American
business customers and exploring options for its
European business.. . . more