Fractures in the Advantages of the Plutocracy
Jun 24, 2015 12:20:18 #
Staples merger unlikely after judge blocks Sysco/US Foods union
Source: NY Post
By Josh Kosman
The proposed $6.3 billion merger of Staples and Office Depot became less likely Tuesday afternoon after a federal judge blocked food service distributor Syscos merger with US Foods, sources told The Post.
Both deals have similar characteristics and the judge upholding the Federal Trade Commissions suit to block Sysco may give regulators confidence to also stop Staples.
Judge Amit Mehta ruled to halt the $8.2 billion Sysco merger temporarily until a full trial is held. But US Foods already said it would not extend the merger agreement if it were halted even temporarily.
In February, the FTC by a 3-to-2 margin sued to stop the deal claiming the merger of the only two national food service providers to restaurants, schools and hospitals would result in higher prices.
Full story at link.
http://www.democraticunderground.com/10141125617
Source: NY Post
By Josh Kosman
The proposed $6.3 billion merger of Staples and Office Depot became less likely Tuesday afternoon after a federal judge blocked food service distributor Syscos merger with US Foods, sources told The Post.
Both deals have similar characteristics and the judge upholding the Federal Trade Commissions suit to block Sysco may give regulators confidence to also stop Staples.
Judge Amit Mehta ruled to halt the $8.2 billion Sysco merger temporarily until a full trial is held. But US Foods already said it would not extend the merger agreement if it were halted even temporarily.
In February, the FTC by a 3-to-2 margin sued to stop the deal claiming the merger of the only two national food service providers to restaurants, schools and hospitals would result in higher prices.
Full story at link.
http://www.democraticunderground.com/10141125617
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.