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European Union Regulators Grant Extension for Staples and Office Depot Deal

The European Union antitrust regulators have extended their probe into Staples’, a U.S. based office supplier, bid to acquire rival Office Depot for $6.3 billion. The extension is about two weeks longer than previously planned and lands on March 2, since the two firms asked for more time. The previous deadline was Feb. 10th. The European Commission launched a full investigation into the deal in September, over concerns that the deal could lead to price hikes.

Staples will most likely offer concessions to assure the deal goes through. The U.S. Federal Trade Commission is also looking into the deal which has already been approved in Australia, New Zealand and China.