NEW YORK — Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector.
Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own.
That's equal to about $13.50 per share, giving the deal a total value of about $1.2 billion.
Analyst say if the deal closes it would likely benefit the largest office supply player Staples Inc. because the combined entity will likely close stores.
related articles »
NEW YORK — H.J. Heinz Co. says it agreed to be acquired by an investment consortium including billionaire investor Warren ...
NEW YORK -- Europe took the financial world on a stomach-churning ride in 2011. The rising threat of default by ...
Shopping center developer CBL & Associates Properties Inc. raised its outlook for the rest of the year on sustained improvement ...
Cigna Corp. will buy fellow health insurer HealthSpring Inc. in a $3.8 billion deal as it becomes the latest managed-care ...
