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Staples Agrees to Buy Office Depot for $11 a Share

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By Niamh Ring

February 4, 2015 at 12:08 PM UTC

This article is for subscribers only.

Staples Inc. agreed to buy Office Depot Inc. for about $11 a share, following pressure on the companies from an activist investor.

The transaction represents a 44 percent premium to Office Depot’s closing price on Feb. 2 and gives it an equity value of about $6.3 billion, according to a statement.