Officemax Purchase Agreement

This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss objectives, intentions and expectations regarding future trends, plans, events, results of transactions or financial conditions, or other information relating to, among other things, the entity, merger and other transactions under the merger agreement, based on beliefs and assumptions and information currently available to management. Forward-looking statements are generally by words such as “anticipate,” “believe,” “plan,” “could,” “appreciate,” “wait,” “forecast,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or phrases, or other variants of those words. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the company`s control. There can be no assurance that the company will recognize these expectations or that these beliefs will prove correct, and investors and shareholders should therefore not place too much reliance on such statements. BureauDepotBrian Levine, 561-438-2895Media RelationsBrian.Levine@officedepot.comorRich Leland, 561-438-3796Investor RelationsRichard.Leland@officedepot.comorOffice MaxJulie Treon, 630-864-6155Media Relationsjulietreon@officemax.comorMike Steele, 630-864-6826Investor Relationsmichaelsteele@officemax.com Customers can interact with any brand as always, including shopping at Office Depot and OfficeMax stores and online at www.officedepot.com and www.officemax.com. Each company will retain its respective loyalty programs and expects to announce a combined loyalty program in 2014. On February 4, 2015, Office Depot agreed to be acquired by rival Staples for $6.3 billion. [26] However, on 7 December, the Federal Trade Commission voted in favour of blocking the merger. [27] On May 16, 2016, Office Depot announced the termination of the merger agreement between Staples and Office Depot.

[28] In accordance with the terms of the merger agreement, OfficeMax shareholders receive 2.69 shares of the common shares of Office Depot, Inc. in exchange for each share of the OfficeMax common share. OfficeMax is now a wholly owned subsidiary of Office Depot, Inc. and is no longer negotiated in government. In total, approximately 240 million shares of Office Depot, Inc. were issued to OfficeMax shareholders, or about 45 percent of the 530 million shares outstanding. OfficeMax grew with its acquisition with Office World first in November 1990, with World Executive And Montgomery Ward becoming minority shareholders. [6] In 1990, Office Square agencies were purchased by Kmart in exchange for a 22% stake. [7] In 1991, Kmart increased its stake in OfficeMax to 92%. [8] In January 1992, OfficeMax acquired five Highland Superstores sites in Boston.

OW Office Warehouse, a regional chain based in Virginia, was acquired on June 30, 1992. [9] In 1993, the company acquired BizMart, the largest acquisition of Intelligent Electronics to date (104 subsidiaries). [10] On August 16, 1993, OfficeMax joined Kmart and most of the other kmart banners in the “largest power center” operated by Kmart in Utica, Michigan. [11] OfficeMax has acquired a 19% interest in Corporate Express, a contractual issuer. [12] In May 1994, Kmart presented its shareholders with a plan to sell 20-30% of its subsidiaries on the open market in order to repay their debts and finance the future expansion of the subsidiaries. [13] Kmart shareholders rejected the proposal at their June 3 general meeting. [14] In November 1994, the FurnitureMax business began to be tested in the Cleveland market as part of a store concept. In 1995, Kmart sold 51% of OfficeMax shares, dethroned the company and became a publicly traded NYSE (OMX) company based in Shaker Heights, Ohio. [16] In the meantime, as outlined in the merger agreement, Neil Austrian, President and CEO of Office Depot, and Ravi Saligram, President and CEO of OfficeMax, will act jointly as co-CEO and implement the integration plans it and its teams have put in place to bring the two divisions together.

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