Open Enrollment | Subscribe to Dealerscope HERE
Follow us on

Office Depot to Buy OfficeMax for $1.17 Billion in Stock

February 20, 2013
Office Depot Inc. agreed to buy OfficeMax Inc. for $1.17 billion in a bid to revive a retailer that has been 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, the companies said today in a statement. Based on Office Depot's closing price yesterday, that values OfficeMax at $13.50 a share, 26 percent higher than it closed at on Feb. 15, before reports the companies were in talks to combine.



Companies Mentioned:

More Suggested Content:

Brand Source CEO Bob Lawrences talks about some of the factors that should drive dealer sales and profits during the next few years.
Brand Source Predicts Increase in Retail Sales
February 20, 2013 From News
 After amassing sales in consumer electronics and appliance that were better than the industry average last year, Brand Source executives expect the next two years to generate better revenues and profits for their dealers.
Google+ Logo
Google Seen Opening Retail Stores
February 18, 2013 From News
Google plans to open retail stores of its own by the end of this year, the website 9 to 5 Google reported. 




Click here to leave a comment...
Comment *
Most Recent Comments: