Acquisitions

Office Depot Shareholders Agree to Staples $6.3 Billion Buyout Offer

Office Depot Shareholders Agree to Staples $6.3 Billion Buyout Offer
Image credit: Jeremy Banks | Flickr
  • ---Shares

Office supply retailer Office Depot Inc said its shareholders voted in favor of the $6.3 billion buyout offer from larger rival Staples Inc.

The shareholders approval is yet another step in the creation of an office supply megastore, set to be the largest in the United States.

Office Depot said 99.5 percent of the votes cast were in favor of the deal, which was announced in February.

(Reporting by Nayan Das and Sruthi Ramakrishnan in Bengaluru)

Latest News and Headlines from Reuters