Staples: New Zealand OK with Office Depot deal
Staples’ bid to buy its chief rival, Office Depot, has received regulatory clearance from the government of New Zealand, the Framingham-based office supply retailer announced Friday.
The country’s Commerce Commission ruled that the planned merger, valued at $6.3 billion, would not impact competition in the industry for government and large corporate customers.
Office Depot stock trades in New Zealand as OfficeMax.
Staples must also seek regulatory approval in the U.S., the European Union, Canada, Australia and China before the merger can proceed.
Staples announced its plan to buy Office Depot in February. A merger would, effectively, combine what were the top three retailers in the industry into one entity. In 2013, Office Depot bought the other top rival in the industry, Office Max.
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