Ridiculous.
Via Reuters:
The U.S. Federal Trade Commission said it has filed a complaint aimed at stopping Staples Inc, the nation’s largest office supply store, from buying its top rival, Office Depot Inc.
Canada’s Competition Bureau also said on Monday it would challenge the proposed transaction, which has received the green light from competition authorities in China, Australia and New Zealand.
Office Depot’s shares fell as much as 17.6 percent to a year low of $5.46, while Staples’ stock dropped 13.6 percent to a year low of $10.68.