[What do students have?] Oudi Office terminates its $6.3 billion merger agreement with Staples
Beijing time on the 11th news, office supplies company giant Oudi Office (Office Depot) said that the company does not intend to appeal the court's decision and plans to terminate the merger agreement with Staples, which will take effect on May 16. What are the student articles? Earlier US District Judge Emmet Sullivan announced the decision to block the delivery... Beijing time on the 11th, office supplies company giant Office Depot said that the company does not intend to appeal the court’s decision and plans to terminate The merger agreement with Staples went into effect on May 16. What is the student article? Earlier, the US federal district judge Emmet Sullivan announced that he would block the transaction because it is not conducive to market competition. This decision is consistent with the previous position of the US Federal Trade Commission (FTC). Staples will pay $250 million in agreement termination fees for Odie Office. Odi Office stated that it plans to meet on May 16 to discuss the next steps; and said it is committed to completing key priorities for 2016. After the news was announced, Staples plunged 10% after the market; Oudi Office plunged 26%. In February 2015, Staples agreed to acquire Oudi Office in cash and stock for a total price of 6.3 billion U.S. dollars. In early December of that year, the US Federal Trade Commission (FTC) raised objections to the merger between Staples and Oudi. The FTC stated that the merger of the two companies would significantly reduce competition across the country or violate antitrust laws.