Is now looks like Office Depot / Office Max will now be bought by Staples.
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Staples Agrees to Buy Office Depot
Staples Inc. agreed to buy Office Depot Inc. for $6.3 billion, taking a major step toward consolidating the retail market for pens, paper and other office supplies.
Under the deal, Office Depot shareholders will swap each share for $7.25 in cash and 0.2188 Staples shares. The deal values Office Depot at $11 a share, a premium of 44% over the closing price of Office Depot shares as of Feb. 2, when The Wall Street Journal reported the talks.
Together, the two companies have roughly 4,000 stores and on Wednesday projected annual sales of more than $39 billion. A combination of the two likely would get a close look from antitrust regulators, who in 1997 sued successfully to block the same proposed merger, bankers and analysts have said.
But some analysts say the retail landscape has changed sufficiently since then, citing the rise of online retailers like Amazon.com Inc. and increased competition from big-box chains like Wal-Mart Stores Inc. and Target Corp. , which all sell office supplies now, too.
Staples said Wednesday that it has been in talks to buy Office Depot since September and expects the deal to close by year’s end. Staples sees the deal resulting in about $1 billion in synergies by the third full year after closing from cuts in head count, general and administrative expenses, and supply chain costs.
Once this is complete you will have more places to get an EASY button.... or maybe not?
