FTC approves merger of OfficeMax and Office Depot

The FTC is giving the green light to a $1.2 billion merger between retail stores OfficeMax and Office Depot. After a seven-month investigation, the agency determined that combining the two stores wouldn’t present a threat to competition. The unanimous vote means the companies have cleared the final hurdle towards a merger, and in a statement, they said they expected to close the deal on November 5th. At that point, they’ll release more details about how the newly unified organization will operate.

The FTC’s decision contrasts with its blocking of a proposed merger of Staples and Office Depot back in 1997. Office supply superstores, a judge decided, provided a unique service and did not consider other brick and mortar stores like Best…

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Source: The Verge

Author: Daily Tech Whip

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