Staples, Office Depot Delay Merger

Staples Inc. and Office Depot Inc. will hold off on their merger plans until a federal judge rules later this spring on the Federal Trade Commission’s request for a court order to officially block the proposed $4-billion acquisition. The companies asked U.S. District Judge Thomas Hogan to make a decision on the court order by June. The merger agreement between the companies expires May 31, when either firm could back out of the transaction. If the judge does block the merger to permit a full-scale antitrust trial, a company lawyer said it would spell the end of the proposed combination of the office supply superstore chains, Office Depot said. By agreeing to delay the merger until a ruling, the companies eliminated the need for Hogan to act on the FTC’s request for a temporary restraining order.