Staples Selling 63 Stores to Win Merger with Office Depot.(Originated from The Miami Herald)

Mar. 13--Staples, determined to consummate its acquisition of rival Office Depot, agreed Wednesday to sell 63 stores to OfficeMax for about $109 million -- half the price it once sought for such a deal.

The sale was announced a day before the Federal Trade Commission was expected to go to court to block the Office Depot acquisition, which would create a 1,100-superstore chain with more than $10 billion in sales.

The sale of stores to OfficeMax -- which would become the only office superstore competition for the merged company -- is intended to eliminate the FTC's contention that the merger would eliminate competition and raise prices for consumers. …