Staples (SPLS), Office Depot Agree to Extension of FTC Review Period

October 12, 2015 8:06 AM EDT

Staples (NASDAQ: SPLS) and Office Depot (Nasdaq: ODP) announced that they have mutually agreed with the Federal Trade Commission to extend the review period for the Office Depot acquisition. Under the terms of the agreement, the FTC has agreed to issue its decision regarding this transaction by December 8, 2015.

“We’re pleased to reach an agreement with the FTC to extend the review period for the Office Depot transaction,” said Ron Sargent, Chairman and CEO, Staples, Inc. “This transaction will enable us to better serve our customers and to compete in an evolving marketplace. We will continue to work cooperatively with the Federal Trade Commission.”

Regulators in Australia, New Zealand and China have approved the transaction. Staples and Office Depot continue to work with regulatory authorities in the European Union, the United States and Canada.

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