Staples-Office Depot deal is delayed again

Staples and Office Depot have agreed to a Federal Trade Commission decision to extend the review period for a possible $6.3 billion merger of the two companies.



The companies announced Monday that the FTC has agreed to issue its decision regarding this transaction by Dec. 8.



“We’re pleased to reach an agreement with the FTC to extend the review period for the Office Depot transaction,” said Ron Sargent, chairman and CEO, Staples, Inc. “This transaction will enable us to better serve our customers and to compete in an evolving marketplace. We will continue to work cooperatively with the Federal Trade Commission.”



Regulators in Australia, New Zealand and China have approved the transaction. Staples and Office Depot continue to work with regulatory authorities in the European Union, the United States and Canada.



Office Depot employs about 2,000 people at its headquarters in Florida. If the deal gets regulatory approval, the new company will be headquartered at Staples' campus in Framingham, Massachusetts, Staples has said.



Staples said in August that same store sales fell 2% in the second quarter and the company closed 15 stores. Since 2014, the retailer has closed more than 210 stores, with at least a total of 225 to be closed by the end of this year.



Office Depot closed 99 stores in the second quarter and anticipates closing 175 stores this year. It will close 60 more next year for a total of at least 400 stores by the end of 2016. Like Staples, it is also expecting revenues to keep falling.