OPERATIONS

It’s Official: OfficeMax and Office Depot to merge

BY Marianne Wilson

New York — OfficeMax Inc. and Office Depot have formally announced an agreement under which the two companies would combine in an all-stock merger that would transform the office supply sector of retail. The merger, which creates a single company with nearly $18 billion in revenue, was unanimously approved by the board of directors of both chains.

According to the press release, holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own. That is equal to about $13.50 per share, giving the deal a total value of about $1.2 billion.

The management team of the combined company is expected to draw upon leaders from both chains. The combined company’s name, marketing brands and corporate headquarters location are expected to be determined following the appointment of the CEO for the combined company.

“In the past decade, with the growth of the Internet, our industry has changed dramatically. Combining our two companies will enhance our ability to serve customers around the world, offer new opportunities for our employees, make us a more attractive partner to our vendors, and increase stockholder value,” said Neil Austrian, chairman and CEO of Office Depot.

The transaction is expected to close by the end of calendar year 2013, subject to stockholder approval from both companies, the receipt of regulatory approvals and other customary closing conditions. Some analysts, however, have said that Federal Trade Commission might not look favorably on the merger. In 1997, a lawsuit by the FTC prevented Staples from acquiring Office Depot.

“We think there is a fair amount of risk that the FTC would not look favorably on a potential merger of the number two and number three players in the office product space," said Citi Investment Research analyst Kate McShane in an Associated Press report.

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T.Shaw says:
Apr-16-2013 05:50 pm

People think that there is a fair amount of risk that the FTC would not look favorably on a prospective merger of the number two and number three parties in the office created space. www.essayleaks.com

N.Nima says:
Feb-21-2013 08:50 am

L-carnosina è di solito una proteina creare ostacolo. Il mercato rete è sicuramente la geografia che è Hermes Borse spesso spostando. Ad un anno o giù di lì per essere in grado a un altro, Towers di pertinenza di avallare apparire così come essere completamente rimosso.

N.Nima says:
Feb-21-2013 08:50 am

L-carnosina è di solito una proteina creare ostacolo. Il mercato rete è sicuramente la geografia che è Hermes Borse spesso spostando. Ad un anno o giù di lì per essere in grado a un altro, Towers di pertinenza di avallare apparire così come essere completamente rimosso.

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OPERATIONS

Stater Bros. names senior operations executive

BY Katherine Boccaccio

San Bernardino, Calif. — Stater Bros. announced Monday that it has promoted Dan Meyer to EVP retail operations, charging him with oversight of retail operations for all 167 Stater Bros. supermarkets and the corporate training center.

A 42-year veteran of the company, Meyer most recently served as SVP retail operations.

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OPERATIONS

Report: C-store saw traffic bumps in 2012

BY Katherine Boccaccio

Houston — A report released Tuesday by research company NPD Group found that the convenience store sector experienced marked gains last year, as visits increased 4.6% in the fourth quarter and grew an average of 3.7% per month for 2012.

Traffic gains were spread among all type of c-stores, according to NPD’s Convenience Store Monitor, which tracks the consumer purchasing behavior of more than 51,000 convenience store shoppers in the U.S.

Traditional c-store traffic increased 0.7%, major oil chains garnered a 3.2% growth, and small/other chains had the strongest growth in traffic at 11.5% compared to the year-ago quarter.

The afternoon daypart, between 2 p.m. and 6 p.m., continues to be the most popular daypart with slightly more than 35% of c-store shoppers visiting then, a 1.7% increase over same quarter a year ago. In addition, the afternoon daypart realized a nearly 10% growth in traffic in the quarter.

Ticket averages increased as well, as consumers spent 31 cents more in fourth quarter 2012, compared to 2011.

“Although the c-store channel outlook is positive for 2013, it remains to be seen if this continues and carries on through the coming year,” said David Portalatin, NPD c-store industry analyst. “2013 is starting out a bit challenging for consumers with the realization of the imposed payroll tax increase, severe weather, and rising gasoline prices all providing added stress, but we’ll see how the remainder of the year shakes out.”

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