Boise Cascade Corp., parent of Reliable catalog, plans to buy retailer OfficeMax in a $1.2 billion deal, Boise said. The acquisition would double the size of Boise Office Solutions, Boise’s office products distribution business.
Under the terms of the definitive agreement the companies signed, Boise will pay the purchase price using 30% cash and 70% common stock.
Boise, a wood and paper supplier based in Boise, ID, has the option of increasing the cash component to 45% and decreasing the stock component to 55%. The transaction is expected to be completed in the fourth quarter.
"Together, OfficeMax and Boise will be strategically stronger and better able to deliver compelling value to office products customers through all channels and across all segments of the market," said George Harad, Boise CEO, in a statement.
