The prospect of a big deal between Office Depot and OfficeMax has stirred up stocks in the world of stapler and notepad merchants.
Shares of both companies were up significantly in premarket trading on Tuesday amid reports that the two were in talks to combine in a stock-for-stock deal. A person briefed on the matter told DealBook that while talks could still fall apart, a merger could be announced as soon as this week.
Shares of Office Depot were up more than 30 percent, at $6.04, while those of OfficeMax were up nearly 24 percent, at $13.38. Those prices would give the combined company a markt value of nearly $3 billion.
Both stocks have risen over the past year, largely because of growing consensus that that the companies should merge. By combining, the two largely brick-and-mortar retailers would be able to cut costs and gain additional buying power to fend off competition from discounters and online competitors.
But the two weren’t the only beneficiaries of a deal bump. Shares in Staples were up nearly 15 percent as well, at $14.79. Analysts have said, however, that the bigger office supply retailer is less likely to strike deals because of antitrust concerns.
