Office Depot Buying OfficeMax

By: CNN

Posted: Wed 10:42 PM, Feb 20, 2013

Office Depot said on Wednesday it will buy smaller rival OfficeMax in an all-stock deal worth about one-point-two-billion-dollars.

The deal was announced in Office Depot's earnings report.

There are no details on cost savings, staff cuts or store closings.

And, there is no indication if the stores will operate under both brands or use one name.

Some in the industry say the merger is an attempt for the two companies to better compete with rival Staples.

Comments are posted from viewers like you and do not always reflect the views of this station.

63° F

Partly Cloudy

Fri

79 63

Sat

82 53

Sun

86 58

Mon

86 59

Most Commented