Mexican retailer Grupo Gigante on Monday did not rule out a possible acquisition of the 50 percent stake in U.S. office-supply store chain Office Depot that it does not already own following a report it was in talks to do so. The company has been considering options related to its 50 percent holding in Office Depot since 2008, Grupo Gigante said. Last week U.S. news agency Bloomberg said it was in talks to purchase the other half.Gigante has held talks with various financial institutions "with a view to using credit lines for financial purposes to execute its business plan and that of its subsidiaries," the company said in a statement to Mexico's stock exchange.The business plan does not exclude acquisitions, but it does also include organic growth, the statement said.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI traded higher by 1.1% or $0.22/share to $20.22. In the past year, the shares have traded as low as $15.22 and as high as $20.83. On average, 20853 shares of FISI exchange hands on a given day and today's volume is recorded at 33695.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP traded higher by 2.0% or $0.09/share to $4.59. In the past year, the shares have traded as low as $1.51 and as high as $4.87. On average, 5126880 shares of ODP exchange hands on a given day and today's volume is recorded at 11640883.
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