The $1.5 billion deal between Kohl’s department stores and JP Morgan has met with approval from U.S. antitrust authorities. JP Morgan is to take over Kohl’s $1.5 billion credit card portfolio.
Officials have completed their investigation of the deal without taking any action, the Federal Trade Commission said in a notice.
Under the deal, Kohl’s will sell more than 13 million private-label credit card accounts and their outstanding balances to JP Morgan Chase.
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