Office Depot to Buy Naperville-Based OfficeMax in $1.2 Billion Deal

Naperville-based office supply company to be bought by rival Office Depot.

Office Depot to Buy Naperville-Based OfficeMax in $1.2 Billion Deal

Naperville-based office supply company to be bought by rival Office Depot.

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 Naperville 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 fate of OfficeMax's …

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Naperville-Based OfficeMax in Talks to Merge With Competitor

Office supply company is in talks to merge with competitor Office Depot, the Wall Street Journal reports.

Naperville-based office supply company OfficeMax Inc. is in talks to merge with competitor Office Depot Inc., the Wall Street Journal reports.  Get news in your inbox. Sign up for the Patch newsletter. Like Naperville Patch on Facebook. While the exact terms aren't currently known, and talks could still fall apart, the deal is expected to be a stock-for-stock transaction, according to the Wall Street Journal. An announcement regarding the deal could come as early as this week.  A merger would give both companies the option to cut costs in terms of the number of store locations and employees, according to the Wall Street Journal. Along with its headquarters in Naperville, OfficeMax has one store location in the city at 790 Royal St. George …

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Collin Czarnecki

4:14 pm on Friday, February 22, 2013

Hi Rachael, Actually, this article was posted on Monday, Feb. 18. The merger was not officially announced until Wednesday, Feb. 20, which we also reported. That article can be found here: http://naperville.patch.com/articles/office-depot-to-buy-naperville-based-officemax-in-1-2-billion-deal Collin   more ›