Office Depot, OfficeMax get merger clearance

NEW YORK — The proposed merger of Office Depot and OfficeMax has received clearance from the Federal Trade Commission, removing a key regulatory hurdle from the process.

The office supply companies agreed to a $1.2 billion combination in February. The agency said its 7-month investigation showed that the combination isn’t likely to cause competitive harm.

The companies said Friday that they expect the transaction to close on Tuesday.

Office Depot Inc., based in Boca Raton, Fla., runs more than 1,300 stores worldwide. OfficeMax of Inc. of Naperville, Ill., operates more than 900 stores in the U.S. and Mexico.

They each anticipate reporting their third-quarter earnings on Monday.

Office Depot’s stock gained 21 cents, or 3.8 percent, to $5.80 in morning trading. Shares of OfficeMax rose 64 cents, or 4.3 percent, to $15.62.

More in Herald Business Journal

Happy accident leads Edmonds couple to make Hunniwater drink

The latest line of energy drinks by Karin and Eric… Continue reading

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

Don’t rely just on productivity measurements to value a worker

The controversies swirling around the productivity data at the national level are… Continue reading

Career Fair planned next week at Tulalip Resort Casino

The Snohomish County Career Fair is planned from 10 a.m. to 2… Continue reading

American Farmland Trust president to speak in Mount Vernon

American Farmland Trust President John Piotti plans to give a talk about… Continue reading

Agent joins Re/Max in Smokey Point

Dennis Roland joined the Re/Max Elite Smokey Point office. The Navy veteran… Continue reading

In space capsules today, little room but big improvement

Boeing and SpaceX are relying on a tried-and-true design as they each develop new spacecraft.

First Boeing KC-46 delivery to Air Force slides into 2018

Certification milestones have been missed, and problems have emerged in flight test, a source says.

SEC reveals hack, possibility info was used for trading

The regulatory agency said the hack was discovered last year.

Most Read