UPDATE: Office Depot (ODP) Agrees to Buy OfficeMax (OMX) in All-Stock Deal
Tweet Send to a Friend
Get Alerts ODP Hot Sheet
Up)
Trade ODP Now!
(Updated - February 20, 2013 7:21 AM EST)
Office Depot, Inc. (NYSE: ODP) agrees to Buy OfficeMax (NYSE: OMX). The deal is valued at $13.50 per share, or $1.2 billion.
UPDATE - From the Office Depot quarterly report:
On February 19, 2013, the Company entered into a definitive merger agreement with OfficeMax Incorporated, pursuant to which the Company and OfficeMax would combine in a tax-free, all-stock merger transaction. At the effective time of the merger, the Company would issue 2.69 new shares of common stock for each outstanding share of OfficeMax common stock. In addition, at the effective time of the merger, the Company’s board of directors will be reconstituted to include an equal number of directors designated by the Company and OfficeMax. The parties’ obligations to complete the merger are subject to several conditions, including, among others, approval by the shareholders of each of the two companies, the receipt of certain regulatory approvals and other customary closing conditions.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Office Depot, Inc. (NYSE: ODP) agrees to Buy OfficeMax (NYSE: OMX). The deal is valued at $13.50 per share, or $1.2 billion.
UPDATE - From the Office Depot quarterly report:
On February 19, 2013, the Company entered into a definitive merger agreement with OfficeMax Incorporated, pursuant to which the Company and OfficeMax would combine in a tax-free, all-stock merger transaction. At the effective time of the merger, the Company would issue 2.69 new shares of common stock for each outstanding share of OfficeMax common stock. In addition, at the effective time of the merger, the Company’s board of directors will be reconstituted to include an equal number of directors designated by the Company and OfficeMax. The parties’ obligations to complete the merger are subject to several conditions, including, among others, approval by the shareholders of each of the two companies, the receipt of certain regulatory approvals and other customary closing conditions.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Royalty Pharma Raises Elan (ELN) Bid to $12.50/share
- Blue Wolf Mongolia (MNGL), Li3 Energy (LIEG) to Merge
- Sprint (S) Raises Bid for Clearwire (CLWR) to $3.40/Sh
Create E-mail Alert Related Categories
Hot Corp. News, Hot M&A, Mergers and Acquisitions
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
