Deals
Staples Agrees to Buy Office Depot for About $6.3 Billion
Staples Agrees to Buy Office Depot for About $6.3B
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Staples Inc. plans to buy Office Depot Inc. for about $6.3 billion, forging a deal that will reduce the U.S. office-supply industry to a single major chain and test the limits of antitrust regulators.
Office Depot shareholders will get $7.25 in cash and 0.2188 of a share in Staples stock at closing, the retailers said in a statement Wednesday. The offer represents a premium of 44 percent over the price on Feb. 2, before news of the talks was reported.