OfficeMax investor sues to stop merger with Office Depot
New York — An OfficeMax shareholder sued the directors of the company on Thursday, seeking to block its acquisition by Office Depot Inc., Bloomberg reported. The investor called the proposed $1.2 billion all-stock deal "grossly inadequate".
"OfficeMax, if properly exposed to the market for corporate control, would bring a price materially in excess of the amount offered in the proposed transaction," the complaint filed by investor Eric Hollander said.
OfficeMax Chairman Rakesh Gangwal and CEO Ravichandra Saligram were among the directors named as individual defendants, accused of breaching their fiduciary duties to the shareholders of the chain, according to the report.
Parametric’s directed sound going into more Build-A-Bear Workshop stores
San Diego, Calif. — Parametric Sound Corp. announced that Build-A-Bear Workshop will include the company’s directed-sound product, HyperSound, in an additional 20-25 newly designed stores that it plans to open across North America this year. The stores have received rave reviews since the retailer unveiled its new interactive design in six locations in the fall of 2012.
HyperSound immerses listeners in a robust 3D audio experience from just two speakers
By 2014, Build-A-Bear Workshop expects to refresh 40 to 50 locations with either full or partial elements of the new design format.
Former Dollar General exec appointed to The Pantry’s board
Cary, N.C. — The Pantry, a leading independently operated convenience store chain in the southeastern U.S., has appointed former Dollar General executive Kathleen Guion to its board of directors.
Guion most recently served as division president of store operation and development from 2005 until her retirement in 2012 from Dollar General Corporation.