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Fly News Breaks for March 28, 2016
ODP, SPLS
Mar 28, 2016 | 08:03 EDT
UBS noted the FTC hearing on the Staples (SPLS) and Office Depot (ODP) merger has begun and although there is some clarity, the outcome is still in question. The firm said the enterprise customer segment is the key debate, as the combined company would control roughly 79% of the market. UBS said although the risk/reward has improved it is still too early to speculate on the outcome. UBS reiterated its Buy rating and $14 price target on Staples shares.
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