Reuters: Regulatory News: UPDATE 4-Office Depot confirms deal with OfficeMax

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UPDATE 4-Office Depot confirms deal with OfficeMax Feb 20th 2013, 14:48 Wed Feb 20, 2013 9:48am EST Feb 20 (Reuters) - Office Depot Inc and smaller rival OfficeMax Inc will combine in a $1.2 billion all-stock deal, the companies said on Wednesday, confirming an agreement inadvertently announced earlier in the day, before it was completed. OfficeMax shareholders will get 2.69 Office Depot common shares for each share they own. At Tuesday's closing prices, the deal would be valued at $13.50 per share, or $1.17 billion, based on 86.7 million shares outstanding as of Oct. 26. Office Depot shares rose 9.4 percent to $5.49 in early trading, while OfficeMax was up 5.7 percent at $13.74. Early on Wednesday, Office Depot posted an earnings press release to its website that included details of the deal. It later pulled that statement down, as a source familiar with the situation said it was a draft and that the deal was not yet done.

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