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

Snohomish County’s campaign to land the 797 takes off

Executive Dave Somers announced the formation of a task force to urge Boeing to build the plane here.

A decade after the recession, pain and fear linger

No matter how good things are now, it’s impossible to forget how the collapse affected people.

Panel: Motorcycle industry in deep trouble and needs help

They have failed to increase sales by making new riders out of women, minorities and millennials.

Costco rises as results display big-box retailer’s resiliency

Their model has worked in the face of heightened competition from online, brick-and-mortar peers.

For modern women, 98-year-old rejection letters still sting

In a stark new video, female Boeing engineers break the silence about past inopportunity.

Tax reform needs the public’s input on spending priorities

The GOP tax plan is a good idea, but the next step should give us a voice on how taxes are spent.

Commentary: GM, Boeing fight a war of words over Mars

Boeing is strongly signaling how crucial deep-space exploration is to its future.

Under cloud of ethics probes, Airbus CEO Enders to step down

He leaves in 2019 after 14 years. Meanwhile, aircraft division CEO Fabrice Bregier leaves in February.

$4.99 sandwich promotion irks some Subway business owners

Management insists that “most franchisees support the promotion.”

Most Read