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…

Continue reading…

Source: The Verge

Author: Daily Tech Whip

This article is part of our 'News Tiles' service. The site is currently in Beta. When it is fully operational you will be able to search through and arrange the 'Tiles' to display a keyword, product or technology over your chosen time period. For example you would be able to display all of the leading tech articles on the new Kindle Fire, in one spot in real time. You will also have access to our own original reporting and analysis as well as a polished place to post your own thoughts & reviews here, amongst the Daily Tech Whip Community. Please let us know if you have any feedback via the contact form or via Twitter. Don't forget to come back next week and see our full site and claim your name and your own free tech blog.

Share This Post On