In an ongoing effort to appease federal regulators and move towards the acquisition of Office Depot, Framingham office retailer Staples has sold off a piece of its business for an undisclosed amount.
The ongoing saga of the $6.3 billion acquisition of Office Depot by Staples took an unexpected, and profitable, turn for Staples and its shareholders when the judge presiding over the lawsuit the Federal Trade Commission has taken out against the Framingham office supply store criticized the FTC's handling of a key witness.
Framingham-based Staples has been facing off against the Federal Trade Commission in court this week as it continues to pursue an acquisition of rival Office Depot.
Despite a fourth quarter profit, Staples sales slumped for the 2015 fiscal year as the Framingham company continues to pursue a purchase of its rival Office Depot.
In a move to appease the Federal Trade Commission and get approval for the acquisition of Office Depot by Staples, the companies announced the sale of $550 million in commercial contracts.
The Framingham-based supplier of office supplies received some much needed good news -- the European Union has approved its acquisition of Office Depot.
To allow for the continued legal battle for a merger that the Federal Trade Commission opposes, Staples and Office Depot have extended their merger agreement.
Framingham office supply company Staples is laying of hundreds of corporate employees, according to multiple reports citing sources within the company.