Office Depot to Buy Naperville-Based OfficeMax in $1.2 Billion Deal
Naperville-based office supply company to be bought by rival Office Depot.
Written by Collin Czarnecki Naperville-based office supply company OfficeMax Inc. is being bought by its larger rival Office Depot in a $1.2 billion all-stock deal, Reuters reports. Get news in your inbox. Sign up for the Patch newsletter. Like Lisle Patch on Facebook. A draft of the deal was accidentally posted on Office Depot's website Wednesday morning, which calls for the exchange of 2.69 Office Depot common shares for each OfficeMax share. "The transaction, which was unanimously approved by the Board of Directors of both companies, will create a stronger, more efficient global provider better able to compete in the rapidly changing office solutions industry," according to a joint press release. Other details of the merger such as the…
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