Staples is one step closer to being acquired

Staples met the first requirement on its road back to private ownership.



The office supplies giant, which is being acquired by private equity firm Sycamore Partners, has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This act states that no merger or acquisition can take place until the United States Federal Trade Commission and Department of Justice have determined that the filed transaction will not violate U.S. commerce antitrust laws.



The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition. The deal remains subject to other customary closing conditions, including Staples’ stock-holder approval.



Staples announced in June that Sycamore Partners acquired the for $10.25 per share for cash. The deal is valued at about $6.9 billion. The deal is set to close in December.