OfficeMax, Office Depot near merger agreement
Office supply retailers Office Max and Office Depot are near a merger that could be announced this week, according to people familiar with the matter.
As of Monday night, the two companies and their advisers were still working toward a price for the deal, expected to be all-stock and originally set to be announced later in the week, one of the people said. However, the announcement could get moved up, given heightened media attention after news of the talks was reported by The Wall Street Journal on Monday, a stock market holiday, two of these people said.
Representatives for Office Depot could not be reached for comment. A spokesperson for Office Max said it is the company’s policy not to comment on market rumors or speculation.
Read more: OfficeMax, Office Depot Near All-Stock Merger: Sources