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Office Supply Store Merger Will Transform Industry - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Office Supply Store Merger Will Transform Industry

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Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector.

The Florida based Office Depot Inc. and Illinois 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.

 Analyst say if the deal closes it would likely benefit the largest office supply player Staples Inc. because the combined entity will likely close stores.

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