November 13, 2015
The investigation by antitrust regulators at the European Commission (EC) has been extended by around three weeks to 2 March 2016, after the two companies asked for more time.
The EC launched a full investigation into Staples’ $6.3 billion (€5.8 billion) bid for rival Office Depot in September, setting an original deadline of 10 February 2016, Reuters reported.
Staples may have to offer concessions such as asset sales to alleviate concerns about price hikes from the EC.
The US Federal Trade Commission (FTC) is also examining the takeover, and also with an extended deadline, set for 8 December, while it has already been approved in Australia, New Zealand and China.
Tags : EU Office Depot Staples