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Stock Market & Financial Investment News

News Breaks
February 19, 2013
10:27 EDTSPLS, OMX, ODPStaples rallies after analysts predict gains from rivals' merger
Staples (SPLS) is jumping after several research analysts predicted that the company would benefit significantly from a potential merger between its rivals, Office Depot (ODP) and OfficeMax (OMX). Following reports that Office Depot and OfficeMax had held talks about combining, Citigroup analyst Kate McShane predicted that the combined company would close some of its stores. Staples could gain market share as a result of these store closures, according to McShane. The analyst did, however, warn that that the Federal Trade Commission could "look unfavorably" on a merger between Office Depot and OfficeMax. Meanwhile, Jefferies analyst Daniel Binder believes that Staples is poised to benefit from an Office Depot-OfficeMax merger. But Binder warned that the potential benefit to Staples from a deal could vary widely, based on how many stores the combined entity would close and how many stores it would sell to Staples. The analyst, however, estimates that Staples' revenue could increase a total of $40M-$60M and its earnings per share could climb 5c-10c over the next three years as a result of the transaction. In mid-morning trading, Staples gained $1.90, or 15%, to $14.85, while Office Depot surged 16% to $5.30 and OfficeMax soared 25% to $13.50.
News For SPLS;ODP;OMX From The Last 14 Days
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February 10, 2016
06:17 EDTODP, SPLSStaples receives approval from European Union to acquire Office Depot
Staples (SPLS) has received approval from the European Union to acquire Office Depot (ODP). The acquisition has been approved in Australia, New Zealand, China, and Europe. The European Commission approved the acquisition on the condition that Staples divest Office Depot's European contract business and all of Office Depot's operations in Sweden. Staples will meet these requirements, and the parties have decided that they will also divest Office Depot's retail, online and catalog operations in Europe in connection with closing the transaction. The merger is the subject of ongoing litigation with the U.S. Federal Trade Commission as well as the Canadian Competition Bureau. The companies recently announced the completion of financing arrangements and the extension of their merger agreement from February 4 to May 16.
February 5, 2016
11:16 EDTSPLSParty City enters into e-commerce relationship with Staples
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February 2, 2016
16:02 EDTODP, SPLSStaples, Office Depot finalize merger agreement extension
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11:10 EDTSPLSStocks with call strike movement; NFLX SPLS
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January 29, 2016
05:26 EDTODPStocks with implied volatility movement; CCL ODP
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