Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Office Depot, OfficeMax get merger clearance

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Associated Press
Published:
NEW YORK -- The proposed merger of Office Depot and OfficeMax has received clearance from the Federal Trade Commission, removing a key regulatory hurdle from the process.
The office supply companies agreed to a $1.2 billion combination in February. The agency said its 7-month investigation showed that the combination isn't likely to cause competitive harm.
The companies said Friday that they expect the transaction to close on Tuesday.
Office Depot Inc., based in Boca Raton, Fla., runs more than 1,300 stores worldwide. OfficeMax of Inc. of Naperville, Ill., operates more than 900 stores in the U.S. and Mexico.
They each anticipate reporting their third-quarter earnings on Monday.
Office Depot's stock gained 21 cents, or 3.8 percent, to $5.80 in morning trading. Shares of OfficeMax rose 64 cents, or 4.3 percent, to $15.62.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup