Staples on Friday told a federal judge it was open to freezing prices for three years to win regulatory approval for its $6. 3 billion takeover of rival Office Depot. The offer came after sources said.
“These kind of gimmicks are usually used when you are playing with a weak hand,” a former FTC official told The Post. Staples declined to comment. The FTC arguing it could lead to higher prices for big corporate customers.
The agency is asking Judge Emmet Sullivan in Washington to temporarily block the deal pending a trial in its own administrative court. Staples, led by CEO Ron Sargent, scored a win Friday after the FTC bungled testimony from a key witness. Economist Carl Shapiro was supposed to present an analysis showing that Amazon is unlikely to become a real competitor to the combined company.
But Sullivan said he wouldn’t consider the report because the FTC hadn’t entered it as evidence..