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Staples, Inc. Issues Update on Discussions with Federal Trade Commission

Staples offered to divest $1.25 billion in commercial contracts; still willing to negotiate with FTC

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Dec. 21, 2015-- Staples, Inc. today gave an update on the status of its discussions with the Federal Trade Commission and the acquisition of Office Depot. The company wants to ensure that stakeholders have accurate information regarding the transaction.

Staples’ Board of Directors and management team have worked tirelessly to complete the transaction. Staples has proposed divesting up to $1.25 billion of commercial contracts in an effort to create an acceptable remedy to the FTC. The FTC rejected the company’s offer without making a counteroffer. The company is still willing to continue negotiations with the FTC to reach a settlement that addresses FTC concerns.

At the same time, Staples is pursuing the transaction through litigation. The company is confident in its legal position and looks forward to a full and impartial judicial review of the matter.

About Staples
Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples lets customers shop however and whenever they want, whether it’s in-store, online or on mobile devices. Staples offers more products than ever, such as technology, facilities and break room supplies, furniture, safety supplies, medical supplies, and Copy and Print services. Staples also offers free shipping for Staples Rewards Members, in most cases overnight. Headquartered outside of Boston, Staples operates in North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (SPLS) is available at www.staples.com.

Source: Staples, Inc.

Staples
Media Contact:
Kirk Saville, 508-253-8530
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Investor Contact:
Chris Powers, 508-253-4632