Staples receives approval from European Union to acquire Office Depot Staples (SPLS) has received approval from the European Union to acquire Office Depot (ODP). The acquisition has been approved in Australia, New Zealand, China, and Europe. The European Commission approved the acquisition on the condition that Staples divest Office Depot's European contract business and all of Office Depot's operations in Sweden. Staples will meet these requirements, and the parties have decided that they will also divest Office Depot's retail, online and catalog operations in Europe in connection with closing the transaction. The merger is the subject of ongoing litigation with the U.S. Federal Trade Commission as well as the Canadian Competition Bureau. The companies recently announced the completion of financing arrangements and the extension of their merger agreement from February 4 to May 16.