Office Depot

WESTBOROUGH, Mass. -- Staples Inc. and Office Depot Inc. said yesterday that they have agreed with a Federal Trade Commission request to extend the antitrust review in Staples' proposed $4.5 billion purchase of Office Depot.The Hart-Scott-Rodino waiting period, which was to expire Feb. 25, was pushed back to March 5.That will give the office-supply retailers time to gather additional information the FTC requested, Staples said in a statement.The FTC is talking with other companies to see if they are interested in buying stores that might be sold in order for the transaction to get antitrust approval.

It's ironic that the Baltimore Sun recently mentioned how vital farmer's markets are to communities ("Growing faster than zucchini," Aug 20). My local market kept getting moved, and I wouldn't be surprised if it doesn't return next year. At least Office Depot was decent and smart enough to offer vendors a spot after they were shuttled from the library parking lot to Boston Market and yet again to a community center. Unfortunately, the new location isn't nearly as convenient: It's unlikely people will (or can)

WASHINGTON -- Staples Inc. and Office Depot Inc. said yesterday that they will hold off on their merger plans for now while a federal judge considers the Federal Trade Commission's request for a court order to block the proposed $4 billion deal.During a federal court hearing, the companies asked U.S. District Judge Thomas Hogan to decide on the court order by the end of May.The merger agreement between the companies expires on May 31, after which either firm could back out.If the judge blocks the merger, permitting a full-scale antitrust trial, that would spell the end of the proposed combination of office-supply superstore chains, a company lawyer said.

After sitting empty for months, prime space on the ground floor of the landmark One Charles Center building in downtown Baltimore has signed its first tenant. Office Depot, the world's second-largest office supply chain, will move into the 22-story office tower at 100 N. Charles St. in May or June. Orioles majority owner and attorney Peter G. Angelos bought the building, designed by the famed architect Ludwig Mies van der Rohe, in 1996. The Florida-based retailer will occupy more than 16,000 square feet of the 26,000 square feet of retail space in the building.

After sitting empty for months, prime space on the ground floor of the landmark One Charles Center building in downtown Baltimore has signed its first tenant. Office Depot, the world's second-largest office supply chain, will move into the 22-story office tower at 100 N. Charles St. in May or June. Orioles majority owner and attorney Peter G. Angelos bought the building, designed by the famed architect Ludwig Mies van der Rohe, in 1996. The Florida-based retailer will occupy more than 16,000 square feet of the 26,000 square feet of retail space in the building.

DELRAY BEACH, Fla. -- Office Depot Inc., the world's largest office-products retailer, agreed yesterday to buy Viking Office Products Inc. for about $2.7 billion in stock, as it moves more into direct marketing of products ranging from pencils to computers.Office Depot will swap one share for each of Viking's 87.1 million shares. The offer for Viking, the world's largest seller of office products through catalogs, is 30 percent higher than Viking's closing price Friday.Office Depot, which operates 614 stores, and its main competitor, Staples Inc., have made big acquisitions in direct marketing after antitrust objections scuttled their proposed $4 billion merger in July.

WASHINGTON -- When U.S. District Judge Thomas Hogan blocked Staples Inc.'s acquisition of rival Office Depot Inc. Monday, he said that, to a large degree, the office-supply superstore chains had been "hoisted with their own petards."The veteran judge was talking about his conclusion that the companies were so successful creating their own market niche that they didn't face enough competition from other retail stores to discourage the merged company from raising prices.A day after Hogan's decision effectively killed the acquisition, however, antitrust experts say Staples and Office Depot were similarly undermined by internal corporate documents that fatally undercut their bid to fend off an antitrust lawsuit by the Federal Trade Commission.

The Federal Trade Commission said yesterday that it opposes the merger of Staples and Office Depot, despite an agreement by the two companies to divest 63 stores.It was the second time in a month that the FTC has rejected a merger of the nation's largest office superstores. The vote means that the commission is set to go into U.S. District Court next week to block the merger.The companies reacted angrily to the commission's vote, calling it "a shock," and said they would evaluate the commission decision with their boards of directors before deciding on whether to continue to fight the decision.

Staples Inc., the chain of office-supply superstores, said yesterday that it will acquire its chief rival, Office Depot, for $3.49 billion in stock.The deal, if approved by shareholders and regulators, would create the largest office-supply superstore chain in North America, with more than 1,100 outlets in the United States and Canada.Revenues should top $10 billion once new stores are added this year. The two chains had combined revenues of more than $8 billion last year."This makes them the Toys R Us of the office-supply industry," said Mark Millman, head of Millman Search Group Inc., a national retail consultant firm based in Lutherville.

The Federal Trade Commission voted yesterday to try to block the merger of two of America's largest office supply superstores, saying that consumers would pay more for pens and fax paper in areas without competition.In an unusual move, the two companies, Staples Inc. and Office Depot Inc., said they would "vigorously contest" the FTC decision.Office Depot's stock lost 25 percent of its value yesterday, falling $5.50 to $17.125 on the news. Staples, based in Framingham, Mass., is considered the stronger of the two companies.

Office Depot opens on Englar Road in Westminster Office Depot held a grand opening and ribbon-cutting Thursday for its store at 402 A Englar Road in Westminster. Local officials welcomed the store and heard about the company's community outreach programs. The store is donating $500 each to Family and Children's Services of Central Maryland, the Carroll County Public Library to reach disadvantaged children, and Carroll County Food Sunday food bank. Also, 120 backpacks with school supplies will be donated to Carroll County public schools for at-risk children.

Moves Baseball MLB: Reduced suspensions of following individuals for roles in incident July 28: Orioles P Willis Roberts from seven to five games, Orioles OF Melvin Mora from four to three games; Red Sox C Jason Varitek from four to three games, Red Sox IF Rey Sanchez from three to two games; and Red Sox pitching coach Tony Cloninger from two games to one game. Suspended Expos P Tomo Ohka six games and fined him $1,000 and suspended Braves P Chris Hammond three games for throwing at batters during game last Saturday; players' association appealed Ohka's suspension.

The chirpy female voice on the phone at Office Depot asks for an order, but if you are still thumbing through the catalog, she seems happy to wait. "If you need more time, just say, 'I need more time,' " she suggests. "I need more time." Then you hear it: "Hmm-hm-hm-hm-hmmm..." Ms. Chirpy is humming. Contentedly humming in your ear, as if to prove that her patience is absolutely endless. And it is, because this is the voice of an automated system that uses electronic speech recognition and recorded human responses to bring Office Depot's Web-based ordering service to call-in customers.

IN THE CURRENT giddiness, Stanley Fisher rises to the occasion. He is the greatest Bawlamer poet since maybe Hyman Pressman. The way Hymie's limericks once immortalized City Hall types and slippery money, Stanley sings cheery hosannahs to the bookmaker and the beauty shop, the bingo parlor and the Sultan of Swat and, right on time, the champion Ravens. So naturally, Stanley being the hot literary property, he was not to be found at his usual haunts yesterday. At Miller's Deli in the Greenspring shopping center, where he generally matriculates, the regulars said he breakfasted early and headed for the familiar rail at Laurel Racetrack with a few pals.

DELRAY BEACH, Fla. -- Office Depot Inc., the world's largest office-products retailer, agreed yesterday to buy Viking Office Products Inc. for about $2.7 billion in stock, as it moves more into direct marketing of products ranging from pencils to computers.Office Depot will swap one share for each of Viking's 87.1 million shares. The offer for Viking, the world's largest seller of office products through catalogs, is 30 percent higher than Viking's closing price Friday.Office Depot, which operates 614 stores, and its main competitor, Staples Inc., have made big acquisitions in direct marketing after antitrust objections scuttled their proposed $4 billion merger in July.

WASHINGTON -- When U.S. District Judge Thomas Hogan blocked Staples Inc.'s acquisition of rival Office Depot Inc. Monday, he said that, to a large degree, the office-supply superstore chains had been "hoisted with their own petards."The veteran judge was talking about his conclusion that the companies were so successful creating their own market niche that they didn't face enough competition from other retail stores to discourage the merged company from raising prices.A day after Hogan's decision effectively killed the acquisition, however, antitrust experts say Staples and Office Depot were similarly undermined by internal corporate documents that fatally undercut their bid to fend off an antitrust lawsuit by the Federal Trade Commission.

WASHINGTON -- The Federal Trade Commission's challenge to the merger of Staples Inc. and rival Office Depot Inc. stems from fundamentally different views of American retailing, and may break new legal ground that could have a broad impact on future retail consolidation, antitrust experts say.From the start, the companies and the federal antitrust investigators have wrangled about whether office-supply superstores are merely a small part of a much larger market...

WASHINGTON -- Staples Inc. reached a tentative agreement yesterday to sell 63 stores to rival OfficeMax Inc. for about $109 million, in a move aimed at heading off a Federal Trade Commission antitrust lawsuit over Staples' proposed purchase of Office Depot Inc.The Federal Trade Commission was expected to go to court today to seek a preliminary injunction to block the Office Depot acquisition, valued at about $4.6 billion in stock and assumed debt. The divestitures, with a price tag that's about half of what Staples wanted for the stores, is similar to the agreement Staples said it hammered out with the FTC several weeks ago."

WASHINGTON -- U.S. Office Products Co. said yesterday that it will buy Mail Boxes Etc. for $24.50 a share in stock, or $276.9 million, to expand into retail services aimed at small businesses.The supplier of paper, services and coffee to companies and schools said it will exchange one share of its stock for each of Mail Boxes Etc.'s 11.3 million shares outstanding.The buyer also will convert 1.3 million Mail Boxes Etc.'s employee stock options to its own stock options, it said.U.S. Office Products has expanded quickly by acquiring more than 165 companies in contract stationery, corporate travel and computer network services.

WASHINGTON -- The Federal Trade Commission's challenge to the merger of Staples Inc. and rival Office Depot Inc. stems from fundamentally different views of American retailing, and may break new legal ground that could have a broad impact on future retail consolidation, antitrust experts say.From the start, the companies and the federal antitrust investigators have wrangled about whether office-supply superstores are merely a small part of a much larger market...