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Shares of Staples Fall on $6.3B Bid for Office Depot

(USA Today) – Office-supply chain Staples agreed to buy its sole remaining competitor, Office Depot, in a $6.3 billion-deal that would create one mega-office-supply chain. But fears of anti-trust opposition sent shares of Staples plummeting 11%, despite applause from investors for the proposal. The merger, which vows cost savings of $1 billion after closing, must […]