OfficeMax (OMX), Office Depot (ODP) In Advanced Merger Talks - Reports
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UPDATE: Office Depot (ODP) Agrees to Buy OfficeMax (OMX) in All-Stock Deal
February 20, 2013 7:17 AM EST(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... More
Jefferies Lifts PT on Staples (SPLS) to $15
February 20, 2013 6:54 AM ESTJefferies boosted its price target on hold-rated Staples, Inc. (NASDAQ: SPLS) from $12 to $15 following news OMX/ODP could merge.
The firm comments, "Strong secular trends in the office products industry and increased competition facing the office superstore (OSS) channel from the club, mass,... More
Notable ETF Movers of the Day 02/19: (XRT) (PBW) Higher; (SLV) Lower
February 19, 2013 2:29 PM ESTGainers:
SPDR S&P Retail ETF (NYSE: XRT) gained 1.6 percent to 68.55. Much of the action took place in the office supply space, with shares of Office Max (NYSE:... More
Staples (SPLS) Surges as Office Depot/OfficeMax Close to a Deal
February 19, 2013 8:21 AM ESTStaples, Inc. (NASDAQ: SPLS) is jumping higher early Tuesday in response to reports Monday that rivals OfficeMax, Inc. (NYSE: OMX) and Office Depot (NYSE: ODP) are in advanced talks to... More
