Staples Shares Get Fired Up on Office Depot Merger Talks

Shares of Staples (SPLS) spiked after advancing merger talks with Office Depot (ODP), making it TheStreet’s Move of the Day. Staples is reportedly in advanced talks to buy competing company Office Depot. The move would unite the two biggest names in the office supplies retail space. TheStreet's Jim Cramer says he likes the idea of a merger between the two, adding that he doesn't think the federal government would block the deal. In 1997, regulators shut down Staples' attempt to buy Office Depot, citing antitrust concerns. Shares of Staples ended the day higher on more than four times its average trading volume, making it the top gainer on the S&P 500. TheStreet's Kurumi Fukushima reports from New York.