Staples, Inc. announced the early termination of Hart-Scott-Rodino waiting period which brings one of the required stages for approval of the sale to an end.
The office supply company announced that on 26 July 2017 the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the pending acquisition of Staples by investment funds managed by Sycamore Partners.
The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including Staples’ stockholder approval.
Staples accepted the offer of $6.9 billion (€6 billion) from Sycamore Partners in June this year.