Saturday, Jul 30, 2016
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BUSINESS BRIEF

OfficeMax, Office Depot merger OK’d by FTC

NEW YORK — The proposed merger of Office Depot and OfficeMax has received clearance from the Federal Trade Commission, removing a key regulatory hurdle from the process.

In February the office supply companies agreed to a $1.2 billion combination. The agency said its seven-month investigation showed that the combination isn’t likely to cause competitive harm.

The companies said Friday that they expect the transaction to close on Tuesday.

Office Depot Inc. runs more than 1,300 stores worldwide. OfficeMax Inc. operates more than 900 stores in the United States and Mexico.

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