Staples Offers To Divest $1.25 Billion in Commercial Contracts

Framingham-based Staples is still in discussions with the Federal Trade Commission (FTC) about a possible acquisition of Office Depot.

The estimated $6 billion deal was announced earlier this year.

In a statement, Staples said its ”Board of Directors and management team have worked tirelessly to complete the transaction. Staples has proposed divesting up to $1.25 billion of commercial contracts in an effort to create an acceptable remedy to the FTC. The FTC rejected the company’s offer without making a counteroffer. The company is still willing to continue negotiations with the FTC to reach a settlement that addresses FTC concerns.”

At the same time, Staples said it is pursuing the transaction through litigation.

The company said it is “confident in its legal position and looks forward to a full and impartial judicial review of the matter.”

Last month, the federal agency rejected a deal that would have allowed Staples to purchase Office Depot. Regulators in China, Canada, Europe, Australia, and several other countries had already approved the deal.