You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • GateHouse Media parent to buy Providence Journal
    The parent company of Gatehouse Media LLC on Tuesday announced an agreement to buy The Providence Journal and related print and digital assets from A.H. Belo Corp. for $46 million cash.
  • New F-150 can compete with Silverado, Ford says
    DEARBORN, Mich. – Ford said its aluminum-sided F-150 pickup will hold its own against rivals despite its lighter weight.
  • Beer trend reversal brewing
    RICHMOND, Va. – Helping to quench a growing thirst for American craft beer overseas, some of the United States’ largest craft breweries are setting up shop in Europe, challenging the very beers that inspired them on their
Advertisement

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.

Advertisement