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.