Deals
Staples Gets EU Clearance for Office Depot Deal on Asset Sale
- Companies agree to sell Swedish operations, contract business
- $6.3 billion deal still needs approval from U.S. officials
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Staples Inc.’s plan to buy Office Depot Inc. for about $6.3 billion was cleared by European Union regulators after the company agreed to sell a contract distribution business in Europe and its operations in Sweden.
The European Commission said the commitments remove any between the merging companies in all markets where concerns were raised, ensuring that an important alternative will remain available. The deal still needs approval from U.S. regulators, where it has already been challenged court.