OfficeMax and Office Depot on Wednesday officially agreed to a merger in an all-stock deal, the Associated Press reported.
From the AP:
Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own.
That’s equal to about $13.50 per share, giving the deal a total value of about $1.2 billion.
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