Office Depot And OfficeMax May Merge

The Wall Street Journal reported that Office Depot Inc. (NYSE: ODP) and OfficeMax Inc. (NYSE: OMX) have engaged in advanced negotiations for a possible merger. Shares of rival Staples Inc. (Nasdaq: SPLS) climbed $1.47 to $14.42 on consolidation hopes. Office Depot stock gained 58 cents to $5.17 while shares of OfficeMax leaped $2.53 to $13.28.

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