Slate: Office Depot is buying Office Max for $1.17B.
Fans of The Office have often heard the Dunder-Mifflin team bemoan the decline of the regional paper company at the hands of big national chains, but these days even the big chains have been suffering. The fear at Office Depot is that Staples is going to eat their lunch unless they get bigger.
Even combined, the new company is going to be about 25 percent smaller than Staples in terms of revenue. And realistically, it's more likely to shrink that to grow.