Federal Trade Commission Extends Review Period For Staples, Office Depot Merger

Staples and Office Depot announced last week they have mutually agreed with the Federal Trade Commission to extend the review period for the Office Depot acquisition.

Under the terms of the agreement, the Commission has agreed to issue its decision regarding this transaction by December 8, 2015.

“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, Inc, in a statement. “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 deal is reportedly worth $6 billion. It was first announced in February 2015.

Regulators in Australia, New Zealand and China have approved the transaction.

Staples and Office Depot continue to work with regulatory authorities in the European Union, the United States and Canada.