OfficeMax

New York -- OfficeMax Inc. and Office Depot have formally announced an agreement under which the two companies would combine in an all-stock merger that would transform the office supply sector of retail. The merger, which creates a single company with nearly $18 billion in revenue, was unanimously approved by the board of directors of both chains.

NAPERVILLE, Ill. and BOCA RATON, Fla. — The office retail field narrowed Wednesday, as OfficeMax and Office Depot officially announced an agreement to merge into a single company. The combined company would have had pro forma combined revenue for the 12 months ended Dec. 29, 2012 of approximately $18 billion.

Under the terms of the agreement, OfficeMax stockholders will receive 2.69 Office Depot common shares for each share of OfficeMax common stock.

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.

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.

NAPERVILLE, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, L.L.C.  Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").

Naperville, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, LLC. Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").

New York -- OfficeMax has become the latest retailer with a smaller-store, urban format either open or in the wings.
 
The retailer will unveil its smaller concept sometime in 2013, according to Crain’s Chicago Business. The new format will range between 5,000 sq. ft. and 15,000 sq. ft., the report said.

Minneapolis -- Supervalu on Monday announced that Sam K. Duncan will become president and CEO, effective immediately. He succeeds Wayne Sales, who has served as the company’s president and CEO since July 2012.