5 Things to Know About the Office Depot-OfficeMax Merger

The combined Office Depot will trade under the ODP symbol

   

5 Things to Know About the Office Depot-OfficeMax Merger

The Office Depot (ODP) and OfficeMax $1.2 billion merger that was announced in February is finally complete.

Bloomberg Businessweek reports that the Federal Trade Commission green-lit the merger on Friday and the two companies are now one. Here are 4 things you should know about the new company:

  • The new company will operate under the name Office Depot Inc.
  • The combined Office Depot has revenue of $17 billion, 2,200 retail stores, and 66,000 employees.
  • The retailer will retain Office Depot’s ODP stock symbol and it will begin trading Wednesday on the New York Stock Exchange.
  • OfficeMax shareholders will receive 2.69 ODP shares for every OfficeMax (OMX) share they hold.
  • Office Depot CEO Neil Austrian and OfficeMax CEO Ravi Saligram will be co-CEOs of the new company until they find someone to take over the reins.

You can read more about the merger here.


Article printed from InvestorPlace Media, http://investorplace.com/2013/11/5-things-know-office-depot-officemax-merger/.

©2014 InvestorPlace Media, LLC

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