US FTC approves Staples' acquisition of Essendant with conditions

US FTC approves Staples' acquisition of Essendant with conditions

The U.S. Federal Trade Commission said on Monday it had approved with conditions the proposed US$482.7 million merger of office supply distributors Staples Inc and Essendant Inc.

FILE PHOTO - A shopping cart is seen outside a Staples office supplies store in the Chicago suburb
FILE PHOTO - A shopping cart is seen outside a Staples office supplies store in the Chicago suburb of Glenview, Illinois, February 4, 2015. REUTERS/Jim Young/File Photo

WASHINGTON: The U.S. Federal Trade Commission said on Monday it had approved with conditions the proposed US$482.7 million merger of office supply distributors Staples Inc and Essendant Inc.

"Staples, which is owned by the private-equity firm Sycamore Partners, will establish a firewall separating Staples' business-to-business sales operations from Essendant's wholesale business," the regulator said in a statement.

"This firewall will restrict Staples' access to the commercially sensitive information of Essendant's customers."

(Reporting by Eric Beech; Writing by Mohammad Zargham; Editing by Sandra Maler)

Source: Reuters

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