Yesterday the Commission filed an injunction seeking to block the acquisition of OfficeMax by Platinum Equity LLC.
According to a new media release by the New Zealand Commerce Commission, yesterday proceedings were filed at the High Court in Auckland as the Commission seeks an injunction to prevent Platinum Equity LLC from purchasing OfficeMax.
The Commission is taking this action out of a fear that “the acquisition would be likely to have the effect of substantially lessening competition in the supply of stationery to large corporate and government customers.”
In addition, the Commission revealed that it “has applied to consolidate its proceedings with those initiated by Complete Office Supplies”.
A date for the hearing has not yet been set but the Commission said it is unlikely to happen this year.
Platinum Equity LLC, which previously bought and renamed the NZ branch of Staples, “did not apply for clearance for its 2017 proposed acquisition of OfficeMax”.