Staples Proposes New Deal to Acquire Ownership of Office Depot

PHL17 Morning News

Staples is hoping to seal the deal with the purchase of Office Depot this time around. This will be the third attempt that the chain has tried to acquire ownership of its competitor.

Staples deal is valued to be worth more than $2 billion dollars.

In 2015, the Federal Trade Commission blocked a similar proposal over anti-trust concerns.

At that time Staples offered more than $6 billion dollars, which was more than triple the amount of what’s being offered now.

Office Depot confirmed in a statement that the proposal has been received and its board of advisors are reviewing it.

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