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Staples (SPLS) Stock Declines After Extending FTC Review Period

NEW YORK (TheStreet) -- Shares of Staples (SPLS - Get Report) are down 0.81% to $12.27 in afternoon trading on Monday after the company agreed with the Federal Trade Commission to extend the review period for its proposed $6.3 billion takeover of rival Office Depot (ODP).

The companies said that the regulators would decide on the deal by December 8.

On August 28 the companies submitted additional information to the FTC and agreed not to close the transaction for at least 45 days, according to Reuters.

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The merger has already been approved by regulators in China, Australia and New Zealand, with regulators in the EU, U.S. and Canada still reviewing the deal.

TheStreet Ratings team rates STAPLES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their...