Staples Gets Clearance From New Zealand To Acquire Office Depot.
By RTT News

Staples announced that it 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 said it continues to work with regulatory agencies in the United States, the European Union, Canada, Australia, and China.

"We're pleased that the Commerce Commission of New Zealand has approved this transaction. we continue to work closely with regulatory agencies around the world and expect the transaction to be completed by the end of the year," said Ron Sargent, Chairman and Chief Executive Officer, Staples.

In February, Staples had agreed to acquire all outstanding shares of Office Depot in a cash and stock deal. The transaction valued Office Depot at an equity value of $6.3 billion.