Microsoft on Tuesday unveiled the Xbox One, an entertainment console meant to be the one system households will need for games, television, movies and other entertainment.
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.
