Government Shutdown Delays Essendant And Staples Merger
Staples and Essendant have once again extended the expiration of their merger agreement. Set to expire on Jan. 9, the two companies have agreed to extend the tender offer to Jan. 16. Originally set to close in the 4th quarter of 2018, the acquisition has been extended multiple times.
According to an article in “Office Products International,” Essendant CEO Ric Phillips says the approval from the Federal Trade Commission has been delayed due to the government shutdown.
However, Phillips believes the merger will still finalize in quarter 1 of 2019. The two companies first announced the acquisition in September.
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