Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

 
 
 
Wednesday, 20 February 2013 07:09

Office Depot, OfficeMax agree to merge

NEW YORK (AP) - 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.

   

 

Published in National News
Tuesday, 19 February 2013 02:28

WSJ: OfficeMax, Office Depot in merger talks

NEW YORK (AP) - The Wall Street Journal is reporting that OfficeMax Inc. and Office Depot Inc. are talking about combining their companies.

The newspaper, citing unidentified people familiar with the matter, said yesterday that talks are at an advanced stage, and an announcement could come as early as this week.

Representatives of both companies declined to comment.

The office supply business is very competitive. Staples is a big player, along with Amazon and big discount stores such as Costco and Wal-Mart.

Boca Raton, Fla.-based Office Depot has about 1,675 stores worldwide, mostly in the U.S. and Canada. OfficeMax, based in Naperville, Ill., has about 900 stores in the U.S. and Mexico. If the two companies merged, they could close stores that compete against each other, as well as reduce costs.
Published in National News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
GOP lawmakers introduce term limits bill

GOP lawmakers introduce term limits bill

   SPRINGFIELD, Ill. (AP) - Illinois Republican leaders have introduced a proposal that would force statewide officers to serve a two-term limit.    Sena...

Kane leads Blackhawks past Blues, 4-3 in OT

Kane leads Blackhawks past Blues, 4-3 in OT

   CHICAGO (AP) - Patrick Kane scored his second goal of the game at 11:17 of overtime, and the Chicago Blackhawks beat the St. Louis Blues 4-3 on Wednesday night to e...

SLFD battles two-alarm home fire

SLFD battles two-alarm home fire

   Fire fighters are working to keep a two-alarm fire in north St. Louis from spreading to adjacent homes.      The blaze broke out in 5000 block of...

Afghan guard shoots dead 3 foreigners in hospital

Afghan guard shoots dead 3 foreigners in hospital

   KABUL, Afghanistan (AP) — Police in Afghanistan say a security guard has opened fire in a Kabul hospital, killing three foreigners and wounding one other person. ...

Camilla's brother dies in NY of head injury

Camilla's brother dies in NY of head injury

   NEW YORK (AP) — The Prince of Wales and his wife, Camilla, are "utterly devastated" by the death of her brother, who fell outside a hotel bar and suffered a head in...

Rams to host 2 prime-time games in 2014

Rams to host 2 prime-time games in 2014

   The St. Louis Rams will open the 2014 season at home against the Minnesota Vikings on September 7th.      The 2014 schedule released Wednesday al...

Mets cut down tying run, hold off Cardinals 3-2

Mets cut down tying run, hold off Cardinals 3-2

NEW YORK (AP) -- Lucas Duda hit a long home run and the New York Mets threw out the potential tying run at the plate in the ninth inning to hold off the St. Louis Cardinals 3-2 ...

Air Force staffer admits to targeting sex offenders with pipe bombs

Air Force staffer admits to targeting sex offenders wit…

EAST ST. LOUIS, IL (AP) – An Air Force staffer stationed in Illinois has admitted he possessed pipe bombs that officials say he planned to unleash on local sex offenders. &n...

© 2013 KTRS All Rights Reserved