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US: Office Depot, OfficeMax merger likely to clear within weeks

 |  October 21, 2013

Reports say the proposed merger between office supplies chains Office Depot and OfficeMax is likely to be cleared by the US Federal Trade Commission within the next several weeks without major concessions, though a decision has yet to be made by the regulator.

The deal, first announced last February, has already gone through an antitrust review by the FTC, reports say, after more than seven months.

If cleared, the buyout will result in the combination of the nation’s second- and third-largest office supply stores and generate annual revenues of $18 billion, though will not likely out beat top rival Staples.

Office Depot agreed to acquire its smaller competitor for an estimated $1.2 billion.

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