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

  • Business at a glance
    BioLife Plasma Services opened a new collection center at 1450 Getz Road in Fort Wayne. Choice Designs Inc.
  • Competition’s all global
    John D. Zeglis is brimming with words of business wisdom.And the retired chairman and CEO of AT&T Wireless Services is eager to share them with the next generation of business leaders.
  • Lending rate at lowest in 17 years
    U.S. mortgage lending is contracting to levels not seen since 1997 as rising interest rates and home prices drive away borrowers. Wells Fargo & Co. and JPMorgan Chase & Co., the two largest U.S.
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