Staples merger unlikely after judge blocks Sysco/US Foods union
Source: NY Post
By Josh Kosman
The proposed $6.3 billion merger of Staples and Office Depot became less likely Tuesday afternoon after a federal judge blocked food service distributor Sysco’s merger with US Foods, sources told The Post.
Both deals have similar characteristics and the judge upholding the Federal Trade Commission’s suit to block Sysco may give regulators confidence to also stop Staples.
Judge Amit Mehta ruled to halt the $8.2 billion Sysco merger temporarily until a full trial is held. But US Foods already said it would not extend the merger agreement if it were halted — even temporarily.
In February, the FTC — by a 3-to-2 margin — sued to stop the deal claiming the merger of the only two national food service providers to restaurants, schools and hospitals would result in higher prices.
FULL story at link.
Photo: Getty Images
Read more: http://nypost.com/2015/06/24/staples-merger-unlikely-after-judge-blocks-syscous-foods-union/
This was the only source I found on this story. Anti-trust is GREAT!!!
= new reply since forum marked as read
