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Monday, February 18, 2013

Office Depot, OfficeMax in merger talks -source, (NYSE: ODP)

U.S. office supply chains Office Depot Inc and OfficeMax Inc are in advanced discussions for a merger, a person familiar with the matter said on Monday. A deal could come as soon as this week, that person said, adding that the talks were ongoing and could still fall apart.Currently, the deal is expected to be structured as a stock-for-stock transaction, the person said.Neither company responded to requests seeking comment.

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.