Staples, Office Depot deadline extended again

European Union antitrust regulators have extended their investigation into US office supplier Staples’ $6,3-billion bid for rival Office Depot by about three weeks to 2 March 2016, after the companies asked for more time.

The European Commission, which had a previous deadline of 10 February, launched a full investigation into the deal in September, as it was worried this could mean price hikes.

Staples may have to offer concessions such as asset sales to counter such concerns.

The US Federal Trade Commission is also examining the takeover which has already secured the green light in Australia, New Zealand and China.

By Foo Yun Chee and Robert-Jan Bartunek for www.reuters.com

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