Office Depot, OfficeMax tap Boston Consulting

Office Depot, OfficeMax will work with Boston Consulting Group on merger

Associated Press

NEW YORK (AP) -- Office suppliers Office Depot Inc. and OfficeMax Inc. have enlisted The Boston Consulting Group to provide support for their pending merger.

The two office-supply chains said in February they planned to combine in an all-stock deal worth about $1.2 billion. But key details, such as the name of the new company, CEO and headquarters, have yet to be determined. Meanwhile, the deal is awaiting approval by the Federal Trade Commission.

Boston Consulting Group will work with the management from both companies to establish priorities and a plan for the merger.

Financial terms were not disclosed.

Office Depot shares rose 9 cents to $4.36 in afternoon trading. OfficeMax shares rose 17 cents to $12.75.

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