January 12, 2021
Five years ago the Federal Trade Commission (FTC) managed to block the proposed $6.3 billion (€5.3 billion) merger deal with a lawsuit claiming the transaction would lead to higher prices and fewer options for big companies buying bulk office supplies.
In this new deal, Staples is proposing to buy its competitor in a $2.1 billion (€1.73 billion) deal, according to CNN Business. According to the report Staples said that the transaction is “compelling value proposition” and it is “prepared to take all necessary measures” for this merger to be approved.
According to CNN Business, Staples is attempting this merger for a third time in 25 years with the first attempt in 1997.
Categories : City News