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Staples Is Buying Office Depot For $6.3 Billion

Staples Is Buying Office Depot For $6.3 Billion

A few years ago, there were three major players in the office supply chain store space. Office Depot, OfficeMax, and Staples. Staples has always been the largest, and now they are doing something pretty unexpected, they’re buying out Office Depot.

Staples announced that they would be buying Office Depot for $6.3 Billion or about $11 per share. The deal should be closed by the end of 2015. It further consolidates the office supplies market here in the US as a couple years ago, Office Depot purchased OfficeMax. Now Staples will be the last one standing to compete only with stores like Wal-Mart and of course Amazon. 

What are your thoughts on this merger? Let us know down in the comments!

Via: The Verge

About The Author

Ben Schoon

Ben is a tech geek who co-founded YourTechExplained in 2016. Constantly switching between devices that literally surround him, he can be found reviewing the latest smartphones around the web.