UPDATE: Office Depot (ODP) Agrees to Buy OfficeMax (OMX) in All-Stock Deal
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OfficeMax (OMX), Office Depot (ODP) Officially Enter Merger Agreement
February 20, 2013 9:32 AM ESTOfficeMax Incorporated (NYSE: OMX) and Office Depot, Inc. (NYSE: ODP) today announced the signing of a definitive merger agreement under which the companies would combine in an all-stock merger of equals transaction intended to qualify as a tax-free reorganization. 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. Customers will benefit from enhanced offerings across multiple distribution channels and geographies. The combined company, which would... More
Winners and Losers from a Potential Office Depot (ODP)/OfficeMax (OMX) Deal
February 19, 2013 2:11 PM ESTInvestors in beleaguered office supply retailers Office Depot (NYSE: ODP) and OfficeMax (NYSE: OMX) are cheering news that the two might merge in a stock-for-stock deal.
Analysts see significant potential for synergies from a deal. KeyBanc analyst Bradley Thomas estimates that a merger would yield at least $300 million in synergies, and potentially $400 million-$500 million over three years. Putting this number in perspective, the analyst notes the... More
RadioShack (RSH) On Watch as OfficeMax/Office Depot Near Deal
February 19, 2013 8:25 AM ESTSpeculators could have their eye on beleaguered retailer RadioShack Corp. (NYSE: RSH) on news that office supply retailers OfficeMax, Inc. (NYSE: OMX) and Office Depot (NYSE: ODP) are in advanced talks to... 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
OfficeMax (OMX), Office Depot (ODP) In Advanced Merger Talks - Reports
February 18, 2013 2:15 PM ESTWith 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... More
