OfficeMax Investor Challenges $1.2B Office Depot Merger

Law360, Los Angeles (May 2, 2013, 9:55 PM EDT) -- A shareholder hit OfficeMax Inc. with a putative class action in Illinois federal court on Thursday seeking to block its $1.2 billion stock-for-stock merger with Office Depot Inc., saying top executives breached their fiduciary duties through the flawed sale process.

The lawsuit comes more than two months after OfficeMax and Office Depot announced the merger of equals, hoping to compete better with big-box stores and online retailers in an industry experts say is long overdue for consolidation. The deal, which was structured as a tax-free reorganization,...
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