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U.S. Federal Trade Commission Preparing to block Staples-Office Depot Deal

According to the New York Post, Stapels Inc’s acquisition of Office Depot Inc, will be blocked by U.S. antitrust regulators. The Federal Trade Commission is seeking more concessions from Staples. The FTC may delay its decision on the deal based on the concessions.

Shares for Staples fell 1.8% to $12.09, while Office Depot was also down 1.8% to $6.63. U.S. regulators blocked Staples’ first attempt to purchase Office Depot in 1997.

European regulators are also investigating the deal, over concerns about possible price hikes.

The two firms are also in talks with wholesaler Essendant Inc to transfer about $600 million of corporate contracts to meet U.S. antitrust concerns.

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