Staples and Office Depot Merge
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Office Depot and Staples are now merging. Staples Inc. announced Wednesday that they have decided to purchase Office Depot for approximately $6.3 billion dollars. The two companies have decided to stop competing and join together, hoping to create revenue and fight against discounters and web retailers of office supplies.
The office supplier chains will now become one major chain in America if the Federal Trade Commission approves the deal. Staples representatives expect the deal to go through by then end of 2015.
If the deal proposed by Staples Inc. is approved, the company will acquire shares from Office Depot. The two companies are hoping to increase pro formula annual sales to $39 million.
Hoping for a smooth and easy transition, the plan is to follow the same steps that Office Max and Office Depot used in their merger in 2013. There is no word as to whether or not Staples will rename the company or not.
