Business

After FTC rejection of proposed merger, Office Depot stock rises and Staples’ falls

BY MARCIA HEROUX POUNDS

Stock prices of Office Depot and Staples headed in opposite directions Tuesday as investors digested the Federal Trade Commission’s rejection of the office supply giants’ proposed merger and analysts considered what might happen next.

Staples’ stock fell 5.44 percent or 58 cents to $10.08 after its announcement Monday that it would go to court to fight the FTC’s challenge of its bid to acquire rival Office Depot. But Office Depot’s stock rose Tuesday, closing at $5.62, up 3 cents or 0.54 percent.

See story at www.sun-sentinel.com.

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