The Federal Trade Commission voted 4-1 to seek a court order blocking Staples' $4 billion acquisition of Office Depot. The merged companies would have 1,000 superstores in the U.S. The two companies spent a combined $80 million on advertising through Cliff Freeman
& Partners, New York, and Pro Media, Needham, Mass. (Staples) and J. Walter Thompson USA, Chicago (Office Depot); an agency consolidation is expected if the acquisition is eventually completed. Staples said it will contest the FTC decision.
Copyright March 1997, Crain Communications Inc.