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
CVS Health Explores Potential Breakup Amid Investor Pressure: Report
Oct 3, 2024 by
CPI
DirecTV Acquires Dish TV, Creating 20 Million-Subscriber Powerhouse
Oct 3, 2024 by
CPI
South Korea Fines Kakao Mobility $54.8 Million for Anti-Competitive Practices
Oct 3, 2024 by
CPI
Google Offers Settlement in India’s Antitrust Case Regarding Smart TVs
Oct 3, 2024 by
CPI
Attorney Challenges NCAA’s $2.78 Billion Settlement in Landmark Antitrust Cases
Oct 3, 2024 by
nhoch@pymnts.com
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh