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New Zealand approves Staples-Office Depot merger


Framingham, Mass. – The proposed $6.3 billion merger of Staples Inc. and Office Depot Inc. has cleared a global regulatory hurdle. Staples has received clearance from the Commerce Commission of New Zealand to acquire all the outstanding shares of Office Depot, which trades in New Zealand as OfficeMax.

Staples continues to work with regulatory agencies in the U.S., the European Union, Canada, Australia, and China. Office Depot is seeking a shareholder vote on its proposed $6.3 billion merger with Staples Inc. at its annual meeting on June 19. With all approvals in place, the deal would finalize by the end of 2015.

Some shareholders do not believe Office Depot executives negotiated the best deal, and are filing lawsuits against the company. As of March 2015, nine lawsuits claiming that Office Depot executives violated their fiduciary duties have been filed in Delaware; two lawsuits were filed in the Fifteenth Circuit Court of the State of Florida.

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