Staples Calls FTC 'Incredibly Narrow' on Office Depot Acquisition

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Staples Calls FTC 'Incredibly Narrow' on Office Depot Acquisition

 news 2016-03-10 at 10:56:43 am Views: 153
  • #45336

    Staples Calls FTC 'Incredibly Narrow' on Office Depot Acquisition
    Staples' CEO Ron Sargent took the Federal Trade Commission to task during Staples' fourth-quarter conference call Friday, but also said the company "remains open to settlement with the FTC."

    He said the FTC is taking "an incredibly narrow" definition of Staples' office-supply business in its challenge to Staples' acquisition of Office Depot, Sargent said.

    "Our commitment to the acquisition hasn't changed. Our top priority is to get the deal done," Sargent told analysts about the $6.3 billion acquisition of Boca Raton-headquartered Office Depot, now the focus of a lawsuit in U.S. District Court in Washington, D.C.

    Court arguments in the trial begin March 21, with the judge's decision on a preliminary injunction to stop the merger from proceeding expected as early as May 10.