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Business

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    John Sampson, president and CEO of the Northeast Indiana Regional Partnership, will lead a delegation of representatives from Fort Wayne Metals, Indiana Michigan Power and the LaGrange County Economic Development Corp.
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  • Atz’s shuts restaurants after ‘awful hard’ year
    Atz’s Ice Cream, which once made ice cream in Kendallville and operated two restaurants in Fort Wayne for more than 50 years, has abruptly closed its stores.
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Office Depot, OfficeMax plan merger

NEW YORK – 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.

Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax said 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 said that 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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