High Court injunction to stop Platinum buying OfficeMax
| 02 November, 2017
The Commerce Commission in New Zealand has filed proceedings in the High Court at Auckland seeking an injunction to prevent Platinum Equity LLC acquiring OfficeMax Holdings Limited.
The Commission considers that the acquisition would be likely to have the effect of substantially lessening competition in the supply of stationery to large corporate and government customers.
The Commission has applied to consolidate its proceedings with those initiated by Complete Office Supplies. A date for the hearing has yet to be set but is unlikely to be this year.
In 2015 the Commission approved a merger clearance application which would have combined the New Zealand businesses of Staples (now owned by Platinum and called Winc NZ Limited) and OfficeMax, as part of a wider global merger. However, the acquisition did not take place within the statutory 12 month timeframe and the clearance lapsed.