OfficeMax gets $72M from Boise Cascade

OfficeMax gets $72 million distribution from minority stake in Boise Cascade

Associated Press

NAPERVILLE, Ill. (AP) -- Office supply retailer OfficeMax Inc. said Wednesday it received a $72 million cash distribution from Boise Cascade Holdings LLC, in which it has a minority stake.

OfficeMax owns about 20 percent of the voting equity securities of Boise Cascade, a maker of plywood and other building materials. Boise Cascade went public in February.

The $72 million was part of $359 million that Boise Cascade distributed to holders of its common units.

OfficeMax, based in Naperville, Ill., said it will record the distribution as a gain in the third quarter. The company is in the process of combining with Office Depot in a $1.2 billion merger.

OfficeMax shares fell 11 cents to $11.39 Wednesday.

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