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Office Depot and OfficeMax higher off of report FTC approval is coming

  • Office Depot (ODP +7.9%) and OfficeMax (OMX +9.1%) spike higher amid chatter the FTC is close to backing the merger of the office superstores.
  • Staples (SPLS +3.8%), which was already putting in some solid gains, also trekked higher off the same news.
  • The general consensus in the sector is that two major players is better than three.
  • OPD-OMX merger timeline
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