Office Depot Inc. and OfficeMax Inc. agreed to combine in a stock swap after losing sales to online rivals and Staples Inc., the largest U.S. office-supplies chain.
February 20, 2013 at 08:12 AM
1 minute read
Office Depot Inc. and OfficeMax Inc. agreed to combine in a stock swap after losing sales to online rivals and Staples Inc., the largest U.S. office-supplies chain.
Office Depot will issue 2.69 new shares for each outstanding OfficeMax common share, according to a statement today. Thats equal to $13.50 a share, based on yesterdays closing price.
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