December 2, 2015
By Steven Wishnia and Neal Tepel
The American Postal Workers Union has urged the Federal Trade Commission not to approve Staples’ plans to buy Office Depot, saying that the $6.3 billion deal would create a “Godzilla” that would dwarf all rivals in the office-supply market.
The union, which has been protesting Staples’ participation in schemes to privatize postal services, said a study estimated that the merged companies would have sales 14 times those of their largest competitor.
Staples, with about $22.5 billion in annual sales, and Office Depot, with about $16 billion, are the only national retailers that supply commercial and government offices. The FTC is expected to make a decision on the deal by Dec. 8, but it must also be approved by regulators in the European Union, Canada, Australia, and China before it can go through. Read more: