According to a Wall Street Journal report, the Federal Trade Commission were set to approve the USD976 million merger of Office Depot and Office Max Inc. The report added that the regulatory body had concluded that the consolidation of the two office and business supplies retailers would not violate antitrust policies.
The Journal cited anonymous sources who said the merger would be approved without the need for both companies divesting its assets.
Office Depot, with headquarters based in Boca Raton, Florida, had disclosed its plans to acquire Office Max back on February 20. The consolidation of the two US companies would set to create the largest office and business supplies chain in the US. Office Depot ranked second in the office supplies market, while Office Max placed third.
When asked for comment about the report, the companies refused to provide statements.
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