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Wednesday, February 20, 2013

BRIEF-Office Depot say enters into merger agreement with OfficeMax, (NYSE: ODP)

Office Depot Inc : * Say enters into merger agreement with OfficeMax * To issue 2.69 new shares of stock for each OfficeMax share * Says new company to have equal number of Office Depot and OfficeMax board members

Shares of ODP remained unchanged at $5.02. 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 310073.