FTC Rejects Staples' $6.3B Takeover Of Office Depot

The FTC hinted in early December that the deal might not be approved because of antitrust concerns.
Posted at 11:45 AM, Dec 21, 2015

Staples' acquisition of Office Depot might be in jeopardy after the Federal Trade Commission rejected the company's latest offer. 

Staples made the announcement, saying it is "confident in its legal position" and "looks forward to a full and impartial judicial review of the matter." (Video via Staples

Staples agreed to buy Office Depot for $6.3 billion in February 2015, but it still needed federal antitrust approval. (Video via Office Depot)

The FTC hinted at rejecting the proposed deal in early December, saying it would violate antitrust laws "by significantly reducing competition nationwide in the market for 'consumable' office supplies sold to large business customers for their own use."

This video includes images from Getty Images.