Office supply retailer Staples said the U.S. Federal Trade Commission had rejected its offer to divest up to $1.25 billion of commercial contracts to secure approval for its acquisition of smaller rival Office Depot.
Continue Reading Below
Staples said on Monday it was willing to continue talks with the FTC to reach a settlement to address the antitrust regulator's concerns.
The FTC sought this month to block the deal, saying a combination of the top two office supply retailers would lead to higher prices for small commercial customers.
(Reporting by Ramkumar Iyer in Bengaluru; Editing by Kirti Pandey)