Staples’ and Office Depot’s plan to merge will be put on hold until March as the European Union says it won’t complete its antitrust review until then.
The $6.3 billion dollar office-supply retail merger can’t close until it is cleared by regulatory authorities in the U.S., Europe and Canada.
The companies previously came to an agreement with the U.S. Federal Trade Commission that it would render a decision by Dec. 8.
Staples’ acquisition of Office Depot has been cleared by Australia, New Zealand and China.
Office Depot, which employs about 2,000 people at its headquarters in Boca Raton, had no comment Thursday on the delay, spokeswoman Karen Denning said. Staples didn’t immediately respond to a request for comment.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Italy’s Antitrust Authority Imposes Heavy Fines on Car Rental Giants
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI