Staples’ acquisition finally approved
January 30, 2019
The long-anticipated acquisition of Essendant by Staples has finally been approved by the U.S. Federal Trade Commission.
Earlier this month, it had been announced that the deal had been postponed due to the shutdown of the US federal government, while Staples and Essendant continued to provide tender offer extensions.
But now, as Reuters reports, the U.S. Federal Trade Commission has at last approved the $482.7 million (€422.3 million) acquisition of Essendant by Staples, albeit with conditions.
“Staples, which is owned by the private-equity firm Sycamore Partners, will establish a firewall separating Staples’ business-to-business sales operations from Essendant’s wholesale business,” said the Commission.
“This firewall will restrict Staples’ access to the commercially sensitive information of Essendant’s customers.”
Categories : City News
Tags : Acquisition Essendant Staples US FTC
