BOCA RATON, FL (BocaNewsNow.com) — The Wall Street Journal is reporting that Boca Raton-based Office Depot (NYSE: ODP) is in “advanced” merger discussions with competitor Office Max.
The report suggests no decision has been made concerning the new headquarters of a combined company, or the fate of Office Depot's Boca Raton-based corporate employees.
According to the Wall Street Journal:
Office Depot, based in Boca Raton, Fla., has 1,675 stores world-wide, annual sales of some $11.5 billion and about 39,000 employees. OfficeMax, based in Naperville, Ill., has about 900 stores in the U.S. and Mexico, roughly $7 billion in annual sales and approximately 29,000 employees. OfficeMax is scheduled to post its quarterly and annual results Thursday.
Neither Office Depot nor Office Max is commenting on the report.
Markets are closed today for the President's Day holiday.