Office Depot and OfficeMax May Merge
Get Breaking News First
Top Spots For Shopping In South Florida
FT. LAUDERDALE (CBSMiami/AP) – Two major office supply stores are in talks to become one.
Boca Raton-based Office Depot is reportedly in merger talks with OfficeMax, according to the Wall Street Journal.
OfficeMax reports its fourth-quarter results on Thursday, while Office Depot is expected to report results next week. Representatives of both companies declined to comment on merger talks.
The newspaper, citing unidentified people familiar with the matter, said Monday that talks are at an advanced stage, and an announcement could come as early as this week.
The office supply business is very competitive. Staples is a big player, along with Amazon and big discount stores such as Costco and Wal-Mart.
Office Depot has about 1,675 stores worldwide, mostly in the U.S. and Canada. OfficeMax, based in Naperville, Ill., has about 900 stores in the U.S. and Mexico. If the two companies merged, they could close stores that compete against each other, as well as reduce costs.
(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The News Service of Florida and the Associated Press contributed to this report.)