Office Depot and OfficeMax finally settled the long-looming speculation about their merger on Wednesday, when the two shrinking retailers announced a $1.2 billion combination.
Even after answering one question, they refused to solve another mystery: Where will the combined company be headquartered? At stake are thousands of jobs and the bragging rights that come with being home to a Fortune 500 company.
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Office supplies merger
Office Depot (NYSE: ODP)
Headquarters: Boca Raton
Sales: $10.7 billion
CEO: Neil Austrian, 73
2011 CEO pay: $6.8 million
OfficeMax (NYSE: OMX)
Headquarters: Naperville, Ill.
Sales: $6.9 billion
CEO: Ravi Saligram, 56
2011 CEO pay: $4.4 million