NEW YORK - Office Depot and OfficeMax have agreed to merge in an
all-stock deal that would transform the $21.2 billion office supply
Office Depot, based in Boca Raton, Fla., and
OfficeMax, based in Naperville, Ill., say holders of OfficeMax shares
will receive 2.69 shares of Office Depot for every OfficeMax share they
That's equal to about $13.50 per share, giving the deal a total value of about $1.2 billion.
say if the deal closes it would likely benefit the largest office
supply player Staples, because the combined entity will likely close