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Wednesday, February 20, 2013

BRIEF-Office Depot CEO says FTC shooting down deal "very unlikely", (NYSE: ODP)

Office Depot Inc : * CEO says web cast provider inadvertently release press release about deal with OfficeMax Inc way ahead" of schedule this morning * CEO says erroneous to call this an acquisition, says it's "a merger ofequals" * Officemax CEO says confident that "marketplace has changed sufficiently" tomake case deal can pass anti-trust hurdles * CEO says ftc not approving deal "very unlikely" * CEO says "premature" to discuss who will be CEO of new company before ftcapproval

Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP fell by 12.65% or $-0.635/share to $4.38. In the past year, the shares have traded as low as $1.51 and as high as $6.10. On average, 6317940 shares of ODP exchange hands on a given day and today's volume is recorded at 74671656.