A federal judge has granted a request by regulators to stop the $6.3 billion merger of office supply chains Staples and Office Depot, potentially saving hundreds of jobs at Office Depot’s Boca Raton headquarters but leaving the company in a weakened position.
U.S. District Court Judge Emmet G. Sullivan said Tuesday that he was granting the preliminary injunction requested by the Federal Trade Commission. Staples has said it would walk away from the merger if the injunction was granted. Less than 30 minutes after the ruling, Office Depot’s chairman and CEO Roland Smith issued a statement saying the two companies would terminate the merger agreement effective May 16.
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