In the Matter of Staples/Essendant, Inc., File No. 1810180 #00195

Submission Number:
00195
Commenter:
Henry Lowendorf
State:
Connecticut
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
I am a regular user of Staples for supplies and printing. To allow or even encourage billionaires to take it over, break it up, close it down, lay off workers, or merge it to destroy competition is irresponsible at best. I agree with the following: "The FTC needs to step in and block this Staples/Essendant merger, as it presents an unacceptable threat to competition. Private equity related mergers deserve heightened scrutiny as private equity funds often remove companies from the markets in which they were situated at time of acquisition, or drastically reduce the scale of their operations, leading to anti-competitive outcomes by reducing the number and scope of firms in a given market. After the great recession, private equity funds have turned to acquisitions to increase profits but this routinely comes at the expense of a company's ability to compete, retain market share, or retain employees. Companies get loaded up with debt and are unable to survive. The FTC needs to stop the Staples/Essendant merger and generally scrutinize the anti-competitive practices of private equity when assessing private equity-driven mergers."