In the Matter of Staples/Essendant, Inc., File No. 1810180 #00843

Submission Number:
00843
Commenter:
A Carter
State:
New Hampshire
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
I am very concerned about this proposed merger by a private equity firm. In the past, these aquisitions and mergers have destroyed viable companies and cost thousands of workers their jobs. It is time for you to stop this abuse by these wealthy investors. Sycamore Partners, the firm that owns Staples, has already shut down most Nine West stores and picked apart companies like Hot Topic and Aeropostale to try to extract as much value as possible. If this merger goes through, investors in a private equity fund will have more power to reduce competition, close stores, and lay off workers. I have several family members who have lost their jobs and never fully recovered financially from such abuses of power in their industries. You need to step in and block this Staples/Essendant merger, as it presents an unacceptable threat to competition. It will likely remove this company as a competitive force in its market sphere. It will increase Sycamore's profits, but will load Staples with debt and likely result in it closing. You need to stop the Staples/Essendant merger and generally scrutinize the anti-competitive practices of private equity when assessing private equity-driven mergers.