Staples, Inc. Issues Update on Discussions with Federal Trade Commission
December 21 2015 - 8:46AM
Business Wire
Staples offered to divest $1.25 billion in
commercial contracts; still willing to negotiate with FTC
Staples, Inc. today gave an update on the status of its
discussions with the Federal Trade Commission and the acquisition
of Office Depot. The company wants to ensure that stakeholders have
accurate information regarding the transaction.
Staples’ Board of Directors and management team have worked
tirelessly to complete the transaction. Staples has proposed
divesting up to $1.25 billion of commercial contracts in an effort
to create an acceptable remedy to the FTC. The FTC rejected the
company’s offer without making a counteroffer. The company is still
willing to continue negotiations with the FTC to reach a settlement
that addresses FTC concerns.
At the same time, Staples is pursuing the transaction through
litigation. The company is confident in its legal position and
looks forward to a full and impartial judicial review of the
matter.
About StaplesStaples makes it easy to make more happen
with more products and more ways to shop. Through its world-class
retail, online and delivery capabilities, Staples lets customers
shop however and whenever they want, whether it’s in-store, online
or on mobile devices. Staples offers more products than ever, such
as technology, facilities and break room supplies, furniture,
safety supplies, medical supplies, and Copy and Print services.
Staples also offers free shipping for Staples Rewards Members, in
most cases overnight. Headquartered outside of Boston, Staples
operates in North and South America, Europe, Asia, Australia and
New Zealand. More information about Staples (SPLS) is available at
www.staples.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151221005623/en/
StaplesMedia Contact:Kirk Saville,
508-253-8530orInvestor Contact:Chris Powers,
508-253-4632
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