Staples Shares Surge On Office Depot-OfficeMax Talk
Staples shares soared 10% in early afternoon trading Tuesday amid prospects of a merger between its smaller rivals Office Depot and OfficeMax. Widespread media reports the past few days revealed that merger talks were in the works between No. 2 and No. 3 office supply chains Office Depot (ODP) and OfficeMax (OMX). Office Depot's shares surged 10% Tuesday in early trading, while OfficeMax shares climbed 21%. All three stocks are trading well off
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