OfficeMax Investor Urges Action

New York City, OfficeMax is being urged by a major shareholder to sell one or more of its units. Investment firm K Capital Partners, a 6.2% owner of OfficeMax shares, hired the Blackstone Group to explore alternatives. The firm believes the OfficeMax stock is undervalued. The retailer has suffered the resignation of its CFO and CEO in recent months and has delayed the reporting of its fourth-quarter earnings while investigating accounting improprieties.