Office Depot & Big Lots, Formerly “Best”
In a deal worth $6.3 billion, Staples has agreed to purchase its chief rival, Office Depot, who itself only recently acquired Office Max for $1.2 billion. The deal is subject to regulatory approval, which may be a hurdle, as it would create one giant office store powerhouse.
A previous merger attempt between the two companies in 1996 failed.
If approved, it’s unclear how it would impact existing stores, including the Office Depot and Staples stores in Bismarck… both of which are located within a mile of each other.
