The two largest office supply chains in the country, Staples Inc. and Office Depot, have reportedly been talking about the possibility of a merger, The International Business Times revealed on Tuesday, February 3.
The reports about the possible merger came after activist investor Starboard Value LP called for the two leading office supply retailers in the country to merge, saying that a combined company would result in greater savings. Starboard Value LP owns 10% of Office Depot and 5.1% of Staples.
Last year, analysts from Credit Suisse encouraged the two companies to combine, saying that it would make them a better competitor against other retail giants, Wal-Mart and Amazon.
With 4,000 stores combined, the two would have estimated annual sales of more than $35 billion should the merger took place.
Mergers can help your business establish greater market leadership. If you are considering creating greater market impact through merger and acquisition, our team of business law attorneys at Arenson Law Group, PC, can guide you through this process while keeping your best interests in mind. Call us at (319) 363-8199 to learn more about how we can help you.
Despite a current lack of plaintiffs, a U.S. District Judge ruled that a class-action lawsuit filed against Apple should still continue, The Los Angeles Times reported on December 8.
U.S. District Judge Yvonne Gonzales Rogers ordered the lawyers fighting Apple in a class-action antitrust lawsuit to produce another plaintiff after she disqualified their last remaining plaintiff. The class-action suit alleges that the iPods bought from 2006 to 2009 included an update that did not allow music downloaded from competing stores to be played. The case was heard with two witnesses last week, but neither of them could adequately serve as a plaintiff because they had not bought an iPod within the required time period.
The lawsuit alleges that Apple’s iPod created a monopoly that allowed them to overcharge consumers and resellers, causing damages of up to almost $325 million.
An accusation of antitrust violation such as this can be very damaging to your business. As such, it is important for you to seek the help of a knowledgeable and experienced business litigation attorney who can successfully advocate for you and your business. If you are in need in Cedar Rapids, speak with our legal team at Arenson Law Group, PC, by calling (319) 363-8199 today.
The U.S. Federal Trade Commission (FTC) has announced its regulatory clearance of Medtronic’s $43 billion acquisition of Irish medical-supply company Covidien on November 26, but under certain conditions, Nasdaq reported.
Because the FTC believes the purchase will be anticompetitive as both companies are developing drug-coated catheters for U.S. consumers, the agency required Medtronic to sell Covidien’s catheter business unit to Colorado-based Spectranetics Corp. To resolve the issue, Medtronic has already announced the $30 million sale earlier this month.
The buyout, which would combine two of the biggest medical supply makers in the world, is expected to conclude in early 2015.
Acquisitions such as this would require meeting all the regulatory and legal prerequisites before being finalized. As such, it is important to seek the help of a qualified and experienced acquisitions attorney who can help you breeze through its necessary legal steps. Speak with a Cedar Rapids business lawyer at Arenson Law Group, PC, by calling (319) 363-8199 today.