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Tue Dec 8, 2015, 07:57 PM

FTC to Challenge Merger of Staples, Office Depot

from the APWU website:
https://www.apwu.org/news/web-news-article/ftc-challenge-merger-staples-office-depot

From the article:
12/07/2015 - The Federal Trade Commission (FTC) announced today that it would seek to stop the proposed merger of Staples and Office Depot, the nation’s largest and second-largest office-supply chains. The agency filed an “administrative complaint” charging that Staples’ proposed $6.3 billion takeover of Office Depot would violate the nation’s anti-trust laws by “significantly reducing competition nationwide.”

APWU President Mark Dimondstein praised the decision. “This is an important victory for consumers and businesses against Staples’ unbridled greed and its dangerous corporate agenda,” he said. “It is a big step toward stopping the merger.”The APWU has been an outspoken critic of the buyout.

“Our union conducted two studies showing the negative impact the proposed merger would have on consumers and businesses. It was clear that a merger of these two companies would have left just one national office-supply superstore chain. This would inevitably force customers to pay higher prices and leave them with fewer choices.”

The FTC voted 4-0 to issue the complaint and to authorize its staff to seek a temporary restraining order and a preliminary injunction in federal court to prevent the two companies from consummating the merger and to maintain the status quo pending a hearing on the matter. The administrative trial is scheduled to begin on May 10, 2016.

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I'm so glad to see this development!


2 replies, 548 views

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Reply FTC to Challenge Merger of Staples, Office Depot (Original post)
sketchy Dec 2015 OP
Turn CO Blue Dec 2015 #1
Sherman A1 Dec 2015 #2

Response to sketchy (Original post)

Tue Dec 8, 2015, 08:18 PM

1. I'm glad too...but FTC has ignored plenty of direct competitor mergers before


so how come just now finding their backbone?

They allowed a $1.2Billion merger of OfficeMax and Office Depot two years ago, unanimously approved it, and said that merger would not hurt consumers, but now this one of Office Depot and Staples will hurt consumers? Their logic is that three doesn't matter, two will work, one is a trust. Uh, huh.

They allowed that big beer merger (yuck)
They allowed a couple of major airline mergers so far (just 4 large airlines remaining now, everything else a puddlejumper or ULCC)

They were only "leaning against" the Comcast/TWC merger right? Talk about something that would hurt consumers!

They're allowing some big pharma mergers next year I think.

At the risk of understatement, I truly wish the FTC, the EPA, the FCC, FEC, etc were all MUCH, MUCH TOUGHER! That is all.



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Response to Turn CO Blue (Reply #1)

Tue Dec 8, 2015, 08:37 PM

2. Precisely

While I don't want this merger to move forward, one wonders what their motivation might be?

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