Office Depot, OfficeMax Reach Merger Deal
All-stock deal valued at $1.2 billion
By Kevin Spak, Newser User
Posted Feb 20, 2013 8:11 AM CST
In this Dec. 20, 2010 photo, an Office Depot store, near New York's Times Square, is shown.   (AP Photo/Richard Drew)

(Newser) – Well, that was fast. Office Depot and OfficeMax have agreed to merge, they announced today, just one day after news leaked that they were in talks to do so. It will be an all-stock deal, with OfficeMax shareholders getting 2.69 shares of Office Depot for every share they own. That puts the total value of the deal at $1.2 billion. Analysts tell the AP that the big winner here might actually be Staples, because the newly merged company is likely to close competing stores.

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Showing 3 of 5 comments
TiredMemeCat
Feb 20, 2013 6:53 PM CST
'That was easy' Be here all week.
LoginsSuck
Feb 20, 2013 10:44 AM CST
So it will be called office and office or the Big O?
finkster
Feb 20, 2013 10:27 AM CST
Now that Office Depot and Office Max have merged they'll be called "Depot is the Max"