FTC Extends Review Of Staples Office Depot Acquisition

Staples and Office Depot have announced that they had mutually agreed with the United States Federal Trade Commission to extend the Office Depot acquisition review period. In addition, the companies noted, the FTC has agreed to issue its decision about the transaction by December 8.

“We’re pleased to reach an agreement with the FTC to extend the review period for the Office Depot transaction,” said Ron Sargent, chairman and CEO, Staples. “This transaction will enable us to better serve our customers and to compete in an evolving marketplace. We will continue to work cooperatively with the Federal Trade Commission.”

The retailers stated that they had won approval of the Staples acquisition of Office Depot from regulators in Australia, New Zealand and China. They added that they would continue to work with regulatory authorities in the European Union, the United States and Canada.