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Office Depot and OfficeMax Agree to $1.2 Billion Merger
- Client News
- February 22, 2013
Practices
Paul, Weiss clients PJ Solomon and Morgan Stanley acted as joint financial advisers to Office Depot in its agreement to merge with OfficeMax for $1.2 billion. Terms of the deal call for Boca Raton, Florida-based Office Depot to issue 2.69 shares for each share of OfficeMax, valuing the smaller company at $13.50 per share. Naperville, Illinois-based OfficeMax will have the ability to pay dividends of up to $131 million, or $1.50 per share, before closing.
The Paul, Weiss team included, among others, corporate partner Jeffrey Marell.