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FTC to decide by December 8 on Staples' Office Depot takeover

Staff writer |
Staples has agreed with the Federal Trade Commission (FTC) to extend the review period for its $6.3 billion takeover of Office Depot.

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Staples and Office Depot announced in February that they have entered into a definitive agreement under which Staples will acquire all of the outstanding shares of Office Depot.

The companies that the regulator would decide on the pending deal by December 8. The extension follows EU regulators launching an extensive investigation last month, warning that the deal could lead to price hikes.

The companies said they continued "to work with regulatory authorities in the European Union, the United States and Canada."

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