OfficeMax shareholders elected to receive $1.4 billion in Boise Cascade stock and cash in return for the outstanding shares of OfficeMax.
The transaction was expected to close by end-of-day Tuesday. Trading of OfficeMax stock (ticker symbol OMX) ceased at the end of the day.
The shareholder agreement puts a near-final stamp on the OfficeMax/Boise Cascade merger, which should be completed later this week. The combined company will have revenue of around $11 billion.
After the deal is completed, OfficeMax founder and CEO Michael Feuer will leave the company and link up with Ralph M. Della Ratta, former senior managing director of investment banking at KeyCorp’s McDonald Investments. Feuer and Della Ratta will form Max-Ventures LLC, a venture capital organization that will focus on specialty retailing.
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