The Wall Street Journal said that office product retailers, OfficeMax (NYSE: OMX) and Office Depot (NYSE: ODP) were likely to receive the Federal Trade Commission’s approval for a proposed merger. The Journal said that the proposed merger of the United States’ second and third largest office product retailers will not harm the competitive landscape of the industry. Sources familiar with the matter said that the regulatory authority will not ask the merged entity to make divestures. In February, Office Depot announced that it intends to buy OfficeMax in an all-stock deal valued at $976 million.
Tag: OMX
Major Movers on February 19; ODP, OMX, SPLS, HUM, SPWR, GIS
Shares of office supplies companies Office Depot Inc. (NYSE: ODP), OfficeMax Incorporated (NYSE: OMX) and Staples Inc. (NASDAQ: SPLS) are seeing a huge rally in trading today after the Wall Street Journal reported that OMX and ODP are close to merging.
Continue reading Major Movers on February 19; ODP, OMX, SPLS, HUM, SPWR, GIS