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Australia: Staples-Office Depot $6.3 billion deal gets approval

By  |  August 13, 2015

Staples’ $6.3 billion deal to acquire Office Depot took one more step toward approval from the Australian Competition and Consumer Commission on Thursday.

That means approval from three regions where the companies conduct business. The deal has already been OK’d by the Commerce Commission of New Zealand and the Ministry of Commerce of the People’s Republic of China, but still needs to be endorsed by regulatory agencies in the United States, the European Union and Canada.

“We continue to make progress on this transaction, and we’re pleased with this decision by the Australian Competition and Consumer Commission,” said Ron Sargent, chairman and CEO of Staples, in a news release. “We continue to work closely with regulatory agencies around the world and expect the transaction to be completed by the end of the year.”

Full content: BusinessWire

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