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Office Depot, OfficeMax announce merger

A sign is posted in front of an Office Depot store on February 19, 2013 in San Rafael, California. The company has announced a merger with OfficeMax.Office Depot and OfficeMax announced Wednesday a merger to create an office-supplies retail giant better designed for an increasingly competitive retail landscape. The companies described the agreement in a joint statement as a "merger of equals." OfficeMax shareholders will receive 2.69 Office Depot shares for each share of their common stock.