OfficeMax, Office Depot Announce Merger [View all]

[DonViejo]

Source: TPM

OfficeMax and Office Depot on Wednesday officially agreed to a merger in an all-stock deal, the Associated Press reported.

From the AP:

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.

Read more: http://livewire.talkingpointsmemo.com/entry/officemax-office-depot-announce-merger

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Link to full AP article:
http://bigstory.ap.org/article/office-depot-officemax-agree-merge