Office Depot, OfficeMax to merge in $1.17 billion deal

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Office Depot, OfficeMax to merge in $1.17 billion deal

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Office Depot will acquire OfficeMax in a $1.17 billion all-stock transaction to give both players more clout to compete against Staples and online competitors including Amazon. The Federal Trade Commission blocked a similar deal between Staples and Office Depot in 1997, but the office supply arena has seen a number of new competitors since then. Read The Bloomberg story here.

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