Office Depot, OfficeMax to Merge in $1.2 Billion Deal
Office Depot will aquire OfficeMax to combine two of the leading office supply stores nationwide.
Office Depot is merging with Naperville-based OfficeMax, the Associated Press reports. Office Depot will aquire its rival company in a $1.2 billion all stock deal. OfficeMax addressed the merger in a brief statement posted on its website today: “The OfficeMax mission is simple: We provide workplace innovation that enables our customers to work better. As a combined company, OfficeMax and Office Depot will have the resources to provide a wide array of services and solutions to help you move your business ahead,” the statement read. Office Depot's stock was down more than a dollar on Wednesday afternoon, from about $5 a share to $4. Meanwhile, Office Max's stock was also down more than a dollar, from about $13 a share to $11.72. Until the …
