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Wednesday, February 20, 2013
Office Depot said on Wednesday that it had reached a deal to buy smaller rival OfficeMax for $1.17 billion in stock to get more clout with suppliers and better compete against Staples and Amazon. OfficeMax shareholders will get 2.69 Office Depot common shares for each share they own. At Tuesday's closing prices, the deal would be valued at $1.17 billion. Advertisement
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