Staples Inc and Office Depot should find the second time is a charm as the top two U.S. office supply chains once again test the views of antitrust regulators in the rapidly changing retail landscape, experts said on Wednesday.Staples, the No. 1 U.S. office supplies retailer, and No. 2 Office Depot Inc announced on Wednesday a $6.3 billion plan to join forces to compete against big box stores and online rivals.The first time the two agreed to merge -- in 1996 -- the deal was derailed by a government lawsuit that successfully argued the move would have meant higher prices for pens, paper and other office supplies in a long list of U.S. cities.But this time around the Federal Trade Commission, which is often skeptical of any bid by the top two firms in a sector to hook up, is likely to approve the deal, four antitrust experts said.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP traded higher by 2.21% or $0.205/share to $9.48. In the past year, the shares have traded as low as $3.84 and as high as $9.32. On average, 10959500 shares of ODP exchange hands on a given day and today's volume is recorded at 149397408.
Staples, Inc. is an office products company. The Company operates in three business segments: North American Stores & Online, North American Commercial and International Operations. Shares of SPLS fell by 11.99% or $-2.28/share to $16.73. In the past year, the shares have traded as low as $10.70 and as high as $19.40. On average, 13513500 shares of SPLS exchange hands on a given day and today's volume is recorded at 65028088.
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