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.
When the $1.50 dividend is paid, the stock will drop closer to what it should be. IF this "merger" ever takes place, the combined company MIGHT be able to hire some good people to actually put up a fight with Staples. If they (mostly ODP) doesn't get rid of the leeches they have now, the entire thing is a waste of time.