Office Depot Inc said on Wednesday it had reached a definitive deal to purchase smaller rival OfficeMax Inc in a bid to get more clout with suppliers and better compete against rival Staples Inc. In the all-stock deal, Office Depot will issue 2.69 new shares of common stock for each outstanding common share of OfficeMax.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. 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 466703.
Staples, Inc. (Staples) is an office products company. Shares of SPLS remained unchanged at $14.65. In the past year, the shares have traded as low as $10.57 and as high as $16.93. On average, 11679200 shares of SPLS exchange hands on a given day and today's volume is recorded at 129060.
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