Office Depot, Office Max on track for FTC approval -report

Reuters

(Corrects to Federal Trade Commission from Fair TradeCommission in paragraph 1)

Oct 20 (Reuters) - Office Depot and OfficeMax Inc are set to receive regulatory approval for their plannedmerger as the Federal Trade Commission has concluded the deal isnot likely to substantially lessen competition, the Wall StreetJournal reported.

Citing unnamed sources, the newspaper also said the dealshould be approved without requiring the companies to makedivestitures.

Boca Raton, Florida-based Office Depot revealed plans to buyNaperville, Illinois-based OfficeMax on Feb. 20 in an all-stockdeal worth $976 million that will combine the nation's secondand third largest office-supply superstores.

The companies declined to comment on the report. (Reporting by Nicola Leske; Editing by Edwina Gibbs)

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