In a bold move that will certainly have big implications on some MS and 5x earning strategies, Staples has announced they will buy rival Office Depot for $6.3 Billion.
Staples Buying Office Depot
Purchases at both Staples and Office Depot stores award certain certain credit card holders a 5x points bonus. The credit cards that offer 5x bonuses are used to purchase items ranging from everyday household items to gift cards to be used at other stores. Those points are then used to transfer to award partners (of Chase or American Express) or used to receive cash back.
The deal calls for $1 Billion in synergies so there will no doubt be store closings in certain targeted markets.