Office Depot to Acquire OfficeMax in All-Stock Deal

Posted on February 20, 2013

Reuters reports that Office Depot has announced an agreement to acquire OfficeMax in an all-stock deal. What is unusual about the deal is the two companies have not yet decided on the name of the new company. They also have not yet decided on the headquarter location or who will be the CEO of the larger office supply company.

The Wall Street Journal reports that the announcement was accidentally made Wednesday in the Office Depot earnings report, which was released prematurely. This could explain why major deal points, such as the name of the new company, have not yet been confirmed.

Office Depot CEO Neil Austrian leveled blame on Thomas Reuters for releasing the earnings report. He said, "Someone at Thomson Reuters pressed the button, and they shouldn't have."

Investors were not happy with surprise merger news. Office Depot's shares fell 17% on news of the deal.

Some experts are saying Staples will benefit from the combination of Office Depot and OfficeMax.

More from Shoppers Shop


  • Kaia Gerber Stars in Penshoppe Denimlab 2017 Campaign


  • Amazon Prime Day 2017 Will Run 30 Hours Starting July 10th


  • Bella Hadid Models Bulgari Fall/Winter 2017 Serpenti Handbag Collection