Staples, Office Depot extend merger deadline

Staples, Office Depot extend merger deadline

Feb 9, 2016

Staples and Office Depot have announced the completion of financing arrangements and the extension of their merger agreement from 4 February 2016 to 16 May 2016.
The extension allows for the completion of ongoing federal district court litigation with the Federal Trade Commission.

On 4 February, 2015, Staples and Office Depot entered into a definitive merger agreement to combine as a single company.

The combined company will be better positioned to provide value to customers, and compete against a large and diverse set of competitors. The company expects to deliver more than $1-billion of annualised synergies net of investments to provide increased value to customers by the third full fiscal year post-closing. The combined company will be better equipped to optimise its retail footprint, minimise redundancy, and reduce costs.

In connection with the proposed merger, Staples has filed with the SEC a registration statement on Form S-4 that includes a proxy statement of Office Depot that also constitutes a prospectus of Staples. Staples filed the final proxy statement/prospectus with the SEC on 18 May 2015.

The registration statement was declared effective by the SEC on 15 May 2015.

Office Depot mailed the definitive proxy statement/prospectus to stockholders of Office Depot on or about 19 May 2015, and the stockholders approved the transaction on 19 June 2015.

The registration statement and the proxy statement/prospectus contain important information about Staples, Office Depot, the transaction and related matters. Investors and security holders are urged to read the registration statement and the proxy statement/prospectus (including all amendments and supplements thereto) carefully.

Source: www.eprretailnews.com