Federal Judge Kills Staples/Office Depot Merger

Staples (NASDAQ: SPLS) has dropped its bid to acquire rival Office Depot (NASDAQ: ODP) after U.S. District Court Judge Emmet G. Sullivan granted the preliminary injunction against the deal requested by the Federal Trade Commission (FTC). Immediately after that decision became public, the two office supply companies announced that they were terminating their planned $6.3 billion merger.