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OfficeMax Incorporated Message Board

  • djhmk2 djhmk2 May 12, 2013 4:10 PM Flag

    ODP lost over $163,000,000 last year

    Their stock is close to worthless in this merger.

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    • I do not agree. First of all at the time of the merger announcement, ODP had a market cap nearly 1-1/2 times that of OMX. Second upon the merger announcement the value of the OMX stock boomed up to $13.50 which is the merger value (i.e. 2.6 shares of ODP stock for each share of OMX stock. Look at the OMX stock as a stand alone. How many weeks in the last 52 has it been at $13.50, then finally you have the dividend to the existing shareholders. OMX was cost cutting itself out of business with huge declines in volume and nearly totally lost in the Contract and Commercial business. If it was not for the Boise profit they would be gone already. Why doesn't anyone on this board seem to realize that without this merger, OMX will die in 12 months, due to lack of relevance. At least the merged companies will have a fighting chance.

      Sentiment: Hold

 

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