Staples-Office Depot Merger Questioned by FTC

Staples Inc. and Office Depot Inc. both received a request for additional information and documentary material from the Federal Trade Commission (FTC). Often referred to as a “second request,” it concerns the proposed acquisition of Office Depot by Staples, rttnews.com revealed.

The second request was issued under the notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) of 1976, as amended. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Staples and Office Depot have substantially complied with this request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Staples and Office Depot announced they intend to cooperate fully with FTC’s request.

In February 2015, Recycling Times Media reported Staples and Office Depot reached a definitive and unanimous agreement under which Staples will acquire all of the outstanding shares of Office Depot at a cost of $6.3 billion.

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