Staples, Office Depot and Federal Trade Commission Mutually Agree to Extend Review Period for Office Depot Acquisition
October 12 2015 - 8:05AM
Business Wire
Staples and Office Depot today announced that they have mutually
agreed with the Federal Trade Commission to extend the review
period for the Office Depot acquisition. Under the terms of the
agreement, the FTC has agreed to issue its decision regarding this
transaction by December 8, 2015.
“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.
IMPORTANT ADDITIONAL INFORMATIONIn connection with the
proposed merger, Staples has filed with the SEC a registration
statement on Form S-4 that includes a proxy statement of Office
Depot that also constitutes a prospectus of Staples. Staples filed
the final proxy statement/prospectus with the SEC on May 18, 2015.
The registration statement was declared effective by the SEC on May
15, 2015. Office Depot mailed the definitive proxy
statement/prospectus to stockholders of Office Depot on or about
May 19, 2015, and the stockholders approved the transaction on June
19, 2015. The registration statement and the proxy
statement/prospectus contain important information about Staples,
Office Depot, the transaction and related matters. Investors and
security holders are urged to read the registration statement and
the proxy statement/prospectus (including all amendments and
supplements thereto) carefully.
Investors and security holders may obtain free copies of the
registration statement and the proxy statement/prospectus and other
documents filed with the SEC by Staples and Office Depot through
the web site maintained by the SEC at www.sec.gov.
In addition, investors and security holders may obtain free
copies of the registration statement and the definitive proxy
statement/prospectus from Staples by contacting Staples’ Investor
Relations Department at 800-468-7751 or from Office Depot by
contacting Office Depot’s Investor Relations Department at
561-438-7878.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTSStatements in
this document regarding the proposed transaction between Staples
and Office Depot, the expected timetable for satisfying conditions
to the merger, including receiving regulatory approvals, and
completing the transaction, future financial and operating results,
benefits and synergies of the transaction, future opportunities for
the combined company and any other statements about Staples or
Office Depot managements’ future expectations, beliefs, goals,
plans or prospects constitute forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any statements that are not statements of historical fact
(including statements containing “believes,” “anticipates,”
“plans,” “expects,” “may,” “will,” “would,” “intends,” “estimates”
and similar expressions) should also be considered to be forward
looking statements. There are a number of important factors that
could cause actual results or events to differ materially from
those indicated by such forward looking statements, including: the
ability to consummate the transaction; the risk that regulatory
approvals required for the merger are not obtained or are obtained
after delays or subject to conditions that are not anticipated; the
risk that the financing required to fund the transaction is not
obtained; the risk that the other conditions to the closing of the
merger are not satisfied; potential adverse reactions or changes to
business or employee relationships, including those resulting from
the announcement or completion of the merger; uncertainties as to
the timing of the merger; competitive responses to the proposed
merger; response by activist shareholders to the merger;
uncertainty of the expected financial performance of the combined
company following completion of the proposed transaction; the
ability to successfully integrate Staples’ and Office Depot’s
operations and employees; the ability to realize anticipated
synergies and cost savings; unexpected costs, charges or expenses
resulting from the merger; litigation relating to the merger; the
outcome of pending or potential litigation or governmental
investigations; the inability to retain key personnel; any changes
in general economic and/or industry specific conditions; and the
other factors described in Staples’ Annual Report on Form 10-K for
the year ended January 31, 2015 and Office Depot’s Annual Report on
Form 10-K for the year ended December 27, 2014 and their most
recent Quarterly Reports on Form 10-Q each filed with the SEC.
Staples and Office Depot disclaim any intention or obligation to
update any forward looking statements as a result of developments
occurring after the date of this document.
About Staples:Staples makes it easy to make more happen
with more products and more ways to shop. Through its world-class
retail, online and delivery capabilities, Staples lets customers
shop however and whenever they want, whether it’s in-store, online
or on mobile devices. Staples offers more products than ever, such
as technology, facilities and break room supplies, furniture,
safety supplies, medical supplies, and Copy and Print services.
Staples also offers free shipping for Staples Rewards Members, in
most cases overnight. Headquartered outside of Boston, Staples
operates in North and South America, Europe, Asia, Australia and
New Zealand. More information about Staples (SPLS) is available at
www.staples.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151012005530/en/
Staples, Inc.Kirk Saville, 508-253-8530Media
RelationsKirk.Saville@Staples.comorChris Powers,
508-253-4632Investor RelationsChristoper.Powers@Staples.comorOffice
Depot, Inc.Mike Steele, 561-438-3657Investor
RelationsMichael.Steele@officedepot.comorKaren Denning,
630-438-7445Media RelationsKaren.Denning@officedepot.com
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