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Staples/Office Depot Merger Decision Is a Toss-Up, but Amazon Could Be the Winner By Tony Owusu | May 09, 2016 | 03:00 PM EDT

Editor's Note: This article was originally published on Real Money at 2:29 p.m. on May 9.

Staples (SPLS - Get Report) and Office Depot (ODP - Get Report) will be in the spotlight over the next two days as the saga surrounding their proposed $6.3 billion merger awaits a judge's decision that is expected by Tuesday.

Any merger or acquisition bid is sure to receive interest from the arbitrage investment community, and Staples/Office Depot's proposed tie-up is no different. With the court's decision essentially viewed as a toss-up, however, no analyst or investor we spoke to wanted to go on the record ahead of the ruling.

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When the two companies announced their merger intentions on Feb. 4, the cash and stock considerations totaled a buyout price of about $10.36 per share. Office Depot closed Friday's session at $6.14, making the purchase price a 69% premium...