Office Depot’s largest shareholder Starboard Value is urging it to sell its stake in Office de Mexico before merging with Office Max.
Office Depot (NYSE: ODP, $4.02 as of 10 a.m.) announced last week that it plans to merge with Office Max (NYSE: OMX, $11.81) if the Federal Trade Commission approves. That is expected to close by the end of the year and would convert all the stock to Office Depot shares. A CEO and headquarters location will be chosen later.
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