OfficeMax (OMX), Office Depot (ODP) In Advanced Merger Talks - Reports

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With U.S. markets closed Monday for President's Day, reports from the Wall Street Journal have surfaced that office supply retailers OfficeMax, Inc. (NYSE: OMX) and Office Depot (NYSE: ODP) are in advanced talks to merge.

The merger comes amid years of intense competition from rivals Staples (Nasdaq: SPLS) and gains in the space by online retailer Amazon.com (Nasdaq: AMZN).

A merger of the two is not an entirely new concept as analysts and investors have been speculating about a combination for months.

The deal is expected to be a stock-for-stock transaction, according to the Journal, though price and other details could not be learned. While the deal is not finalized, it could be announced as soon as this week.

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