The European Commission on Friday, Sept. 25, opened an in-depth investigation into Staples Inc.’s $6.3 billion purchase of Office Depot Inc., The Deal’s Laura Board reports. The merger, which was blocked by the Federal Trade Commission back in 1997, is already facing intense scrutiny in the U.S., where it would leave just one national office supply chain. In its statement on Friday, the EC said the fusion could lead to higher prices and less choice in the European Economic Area for business customers. ‘All companies and organisations, big or small, need office supplies for their daily work. We are opening this in-depth investigation to make sure that the merger of two of the main suppliers of office products will not have a negative effect on competition,’ said Margrethe Vestager, EC Commissioner responsible for competition, in the statement. The Commission has 90 working days, until Feb. 10, to take a final decision, meaning the transaction almost certainly won’t close by year-end, as the companies originally expected.
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