Last updated on June 13th, 2024 at 05:12 pm
New Channels News In Brief…
The Federal Trade Commission has filed an administrative complaint charging that Staples Inc.’s proposed $6.3 billion acquisition of Office Depot Inc. would violate the antitrust laws by significantly reducing competition nationwide in the market for “consumable” office supplies sold to large business customers for their own use. “The commission has reason to believe that the proposed merger between Staples and Office Depot is likely to eliminate beneficial competition that large companies rely on to reduce the costs of office supplies,” said FTC Chairwoman Edith Ramirez. “The FTC’s complaint alleges that Staples and Office Depot are often the top two bidders for large business customers.” The complaint further alleges that, by eliminating the competition between Staples and Office Depot, the transaction would lead to higher prices and reduced quality. The FTC will seek in federal court a temporary restraining order and a preliminary injunction to prevent the parties from consummating the merger and to maintain the status quo pending the administrative proceeding…
According to the U.S. Environmental Protection Agency, 24 New England organizations are receiving a “Regional Food Recovery Achievement Certificate” for their work to reduce food waste. Among the food companies are two Whole Foods stores in Connecticut; Big Y of Springfield, Massachusetts; BJ’s Wholesale Club of Westborough, Massachusetts; Boston Organics of Boston; Signature Bread of Chelsea, Massachusetts; and Johnson & Wales of Providence, Rhode Island.
