Staples and Office Depot want to pledge their future and their fortunes together in corporate matrimony, and the Federal Trade Commission objects to their union. The companies and the Federal Trade Commission are making their cases before a federal judge, and the key question in this merger seems to be whether large corporations plan to buy their office supplies from Amazon in the future. An Amazon executive testified that they haven’t signed any major companies, and aren’t really pursuing big corporate contracts. Yet. [More]
Staples and Office Depot want to merge and form one mega-chain of office supply stores that you mostly visit to drop off UPS packages. The Federal Trade Commission doesn’t approve of this union, because both sell supplies and serve as wholesalers to smaller office suppliers. The companies announced late yesterday that they’ve reached an agreement with Essendant, a smaller national supplier, to take over some of that business if the merger goes through. [More]
It may sound like the perfect marriage of the cold war era, but it’s 21st century business all over: Dow and DuPont, the two oldest, biggest chemical companies in the country, today announced their plans to merge in a whopping $130 billion deal.
After reports swirled last week that Verizon might be in the mood to go shopping in the Internet company aisle, the company’s chief financial officer says it could possibly be interested in buying Yahoo’s web business — if Yahoo is selling and if a deal made sense. [More]
Last week, Walgreens Boots Alliance, the parent company of this country’s top drugstore chain, announced that pending antitrust approval, it would buy the #3 chain, Rite Aid, for $9.4 billion. That would create two massive national drugstore chains, and also leave a lot of empty stores. One estimate is that 3,000 stores would close… not necessarily for antitrust reasons, but because the stores are simply too close together. [More]
One of the barriers to the formation of the StaplesMaxDepot office-supply Voltron has been the commercial supply businesses that both companies run: in addition to running retail stores, they both also do business delivering office supplies to corporate clients. One possibility could let the mega-merger go forward: Staples could sell its commercial supply business to competitor Essendant. [More]
As consumers’ tastes shift toward healthier foods, the appeal of organic products has had companies scrambling to either trot out their own organic offerings or just buy out other businesses that are already in the game. Flowers Foods is taking the latter route, snapping up organic food purveyor Alpine Valley Bread Co. for $120 million, its second acquisition of an organic baking company in a month.
A year after the No. 2 and No. 3 cigarette brands in the country first announced they were planning to go all-in on a $27.4 billion merger, regulators have approved an order settling charges that the deal would be anticompetitive for the U.S. cigarette market, paving the way for the merger to move forward. [More]
What a difference a month makes: Just a few weeks ago, Cigna rejected Anthem as a suitor, citing things like the major data breach the company suffered earlier this year and turning down its $47 billion merger bid. It seems Anthem has been busy a-courtin’, as the company announced this morning that it’s reached a deal to buy Cigna for $54 billion, effectively creating an insurance giant.
Just weeks after a legislator voiced concern that a shrinking airline industry has perpetuated potential anti-competitive behavior aimed at keeping the price of airfare high, the Department of Justice revealed it is looking into the possibility of collusion between airlines.
Sysco and US Foods, the two biggest national foodservice suppliers, want to merge, and the meanies at the Federal Trade Commission won’t let them. Regulators think this merger would be bad for the companies’ customers–and their customers are food service institutions ranging from the most humble snack bars to the fanciest restaurants. Back in February, the FTC sued to stop the merger, and today a federal judge has issued a preliminary injunction blocking it. [More]
It’s not often you hear about a shotgun wedding between two tech companies, but that’s apparently what happened for Verizon and AOL, as the recently betrothed said today that they had officially completed a $4.4 billion acquisition proposed just a month ago. [More]
After Anthem Inc. unveiled its roughly $47 billion bid to merge with fellow health insurer Cigna Corp. over the weekend, the object of its affections swiftly put the kibosh on that proposal. In a letter to Anthem’s board, Cigna said it was “deeply disappointed” with its suitors recent actions, and that the offer wasn’t in the best interest of shareholders.
American Airlines and US Airways, Southwest Airlines and AirTran, Continental and United. These are just a few of the major mergers to hit the airline industry in the last several decades. While airlines contend that such combinations have created more streamlined processes for customers, some legislators are concerned that a shrinking airline industry has perpetrated potential anti-competitive behavior, leading to a request for a federal investigation. [More]
The love triangle between the parent company of online retailer ThinkGeek and its two suitors continues to heat up, with Geeknet now telling original suitor Hot Topic it has until Monday to match or exceed the higher bid from a new mystery rival. Because like so many real life dating situations, it all comes down to an ultimatum.
Reynolds, Lorillard Must Sell Salem, Kool, Maverick & Winston Brands To Gain Approval Of $27.4B Mega-Cigarette Merger
You may recall that last July the No. 2 and No. 3 cigarette brands in the country announced they were planning to go all in on a $27.4 billion merger. This week the two companies received the blessing from federal regulators, as long as they divest four cigarette brands to a UK-based company. [More]