In 2013, the U.S. Federal Trade Commission (FTC) allowed the number two and number three office supply companies, OfficeMax and Office Depot, to merge. Office Depot’s market value was $1.3 billion and OfficeMax’s was $933 million. Reportedly, the efficiency gains from merging would save the new company between $400 and $500 million. However, in 2015, the FTC was considering a possible lawsuit to block a merger valued at $6.3 billion between Office Depot and Staples, the largest office supply company. Why might the FTC permit the earlier merger attempt but not the Staples–Office Depot merger?