Staples Purchases Office Depot for $6.3 Billion
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However, investors are concerned that the Federal Trade Commission (FTC) will not approve the deal, according to USA Today. That worry caused Staples shares to drop 12 percent the day the merger was announced.
"I think they have to fight it," Staples co-founder and former CEO Tim Stemberg said of the FTC's potential view of the merger. Staples faces "potentially a long and nasty legal skirmish" to get it done, he added.
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Amanda L. Cole
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Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.
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