OfficeMax, Office Depot Talk Merger

Struggling firms seek boost against, you know, Amazon

By Matt Cantor,  Newser Staff

Posted Feb 19, 2013 8:04 AM CST

(Newser) – OfficeMax and Office Depot could be close to a merger, the Wall Street Journal reports: They're deep into talks and, while there are no guarantees, they could announce the deal within days. The arrangement would likely be via stock trade. Both companies have struggled over the past few years in the face of competition from Staples and Amazon. Office Depot's shares have dropped some 90% since 2006, and its top shareholder wants the company to take action. A combined firm would mean revenue of about $18 billion, Bloomberg notes; Staples' revenue last year was $25 billion.

An OfficeMax store is shown in Philadelphia in this Aug. 3, 2006 file photo. Office-supply retailer OfficeMax Inc. said Thursday, May 3, 2007 it swung to a first-quarter profit, but retail sales declined...   (AP Photo/George Widman, file)
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