FTC To Block Billion-Dollar Office Supply Merger

The FTC moved to shoot down the $6.3 billion merger of Staples Inc with its top rival, Office Depot Inc. “The commission has reason to believe that the proposed merger between Staples and Office Depot is likely to eliminate beneficial competition that large companies rely on to reduce the costs of office supplies,” FTC Chair Edith Ramirez said. The companies said they planned to fight the decision in court, saying their competition is now primarily from Internet sellers and big box stores. Canada’s Competition Bureau also said this week they would challenge the proposed merge.