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
IRISH LAWMAKERS BACK BILL ON LIFE-SAVING ABORTIONS

IRISH LAWMAKERS BACK BILL ON LIFE-SAVING ABORTIONS

DUBLIN (AP) -- Ireland appeared on course to legalize abortion in limited circumstances as lawmakers voted Tuesday to support a bill that would permit a pregnancy to be terminated ...

FOOD COMPANIES CUT 6.4 TRILLION CALORIES

FOOD COMPANIES CUT 6.4 TRILLION CALORIES

WASHINGTON (AP) -- Some of the nation's largest food companies have cut calories in their products by more than 6.4 trillion, according to a new study. The study sponsored b...

HEALTH INSURANCE ISN'T A YEAR-ROUND THING ANYMORE

HEALTH INSURANCE ISN'T A YEAR-ROUND THING ANYMORE

WASHINGTON (AP) -- Here's more fallout from the health care law: Until now, customers could walk into an insurance office or go online to buy standard health care coverage any t...

STUDY TO TEST 'CHOCOLATE' PILLS FOR HEART HEALTH

STUDY TO TEST 'CHOCOLATE' PILLS FOR HEART HEALTH

It won't be nearly as much fun as eating candy bars, but a big study is being launched to see if pills containing the nutrients in dark chocolate can help prevent heart attacks ...

WHAT YOU NEED TO KNOW ABOUT MARCH HEALTH DEADLINE

WHAT YOU NEED TO KNOW ABOUT MARCH HEALTH DEADLINE

WASHINGTON (AP) -- Sick of hearing about the health care law? Plenty of people have tuned out after all the political jabber and website woes. But now is the time to tun...

UPDATED HEALTHCARE.GOV GETS MIXED REVIEWS

UPDATED HEALTHCARE.GOV GETS MIXED REVIEWS

FORT LAUDERDALE, Fla. (AP) -- Counselors helping people use the federal government's online health exchange are giving mixed reviews to the updated site, with some zipping throu...

EUROPE: DIET SWEETENER ASPARTAME IS SAFE IN COLA

EUROPE: DIET SWEETENER ASPARTAME IS SAFE IN COLA

AMSTERDAM (AP) -- The European Food Safety Authority has found that the artificial sweetener aspartame is safe for people to consume at the levels currently used in diet soft dr...

FEDS: Health Insurance exchanges popular with young women

FEDS: Health Insurance exchanges popular with young wom…

   After website issues caused a slow start, new data from the federal government shows enrollment in health-care plans through federal and state online marketplaces i...

© 2013 KTRS All Rights Reserved