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Reports: Office players talk merger
The second and third largest players in the office retail space could soon join forces. According to published reports,OfficeMax and Office Depot could announce a merger this week.
The rumors have gotten Wall Street buzzing as pre-market trading saw shares of Office Depot and OfficeMax up 28.5% and 20%, respectively.
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OfficeMax, Office Depot reportedly discussing merger
New York -- Office Depot and OfficeMax are in talks to merge, according to reports by the Wall Street Journal and Bloomberg.
The retailers are discussing as potential stock swap that would result in a single company with nearly $18 billion in revenue, reports said. The combined company would be better positioned to take on Staples, Walmart and other competitors.