Staples using litigation to pursue merger
Citing a lack of response from the Federal Trade Commission, Staples Inc. announced it is pursuing legal options while continuing to push for talks with the FTC as it pushes for a merger with Office Depot.
The Framingham office supply company released a statement Monday morning saying that it had not received a counteroffer from the FTC following a proposal that would have divested the company of $1.25 billion in commercial contracts. Although the company announced it is willing to work with the FTC to address concerns, it is also “pursuing the transactions through litigation.”
The trade commission announced in early December it would move to block the company's planned merger with its rival, saying that the merger would reduce competition within the market and lead to higher prices.
Staples maintains that the acquisition would benefit customers as well as employees and shareholders.
Read more
WBJ Web Partners
Most Recent
Most Recent
0 Comments