Could a merger between Office Depot and Staples be in the offing?
Published reports on Tuesday indicated that the office superstore giants are in discussion to join forces, with a report in the Wall St. Journal calling the talks “advanced.”
According to Bloomberg Business, the deal would create a chain with more than $35 billion in revenue with thousands of locations across the United States. In 2013, a merger between Office Depot and OfficeMax received approval from the Federal Trade Commission, which would also have to approve a deal between Office Depot and Staples.
Spokespersons for both retailers declined comment, Bloomberg Business reported.
As of midday Tuesday, Staples stock price was up more than 9% while shares of Office Depot were up more than 17%.