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Reginal Thomas

Staples Prepared to Spin-off More Assets To Please FTC

Staples Inc, an office supplies retailer, is willing sell more assets to win antitrust approval for its $6.3 billion offer to buy Office Depot Inc.

Previously Staples offered to divest about half of Office Depot’s assets with revenues of up to $1.25 billion. Going back and forth with the Federal Trade Commission, Staples has already offered to sell assets worth half that amount.

Staples announced it would transfer contracts to retailer Essendant Inc to relax anti-trust concerns. It may offer more contracts to Essendant to further satisfy antitrust concerns.

The Federal Trade Commission has scrutinized the deal that will bring the two largest office supply retailers in the United States. Dec. 8th has is the designated date for the FTC to make a final decision on the deal. 

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