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CORRECTED-Office Depot, Office Max on track for FTC approval -report
October 21, 2013 / 12:35 AM / 4 years ago

CORRECTED-Office Depot, Office Max on track for FTC approval -report

(Corrects to Federal Trade Commission from Fair Trade Commission in paragraph 1)

Oct 20 (Reuters) - Office Depot and OfficeMax Inc are set to receive regulatory approval for their planned merger as the Federal Trade Commission has concluded the deal is not likely to substantially lessen competition, the Wall Street Journal reported.

Citing unnamed sources, the newspaper also said the deal should be approved without requiring the companies to make divestitures.

Boca Raton, Florida-based Office Depot revealed plans to buy Naperville, Illinois-based OfficeMax on Feb. 20 in an all-stock deal worth $976 million that will combine the nation’s second and third largest office-supply superstores.

The companies declined to comment on the report. (Reporting by Nicola Leske; Editing by Edwina Gibbs)

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