Naperville-Based OfficeMax Crosses Key Hurdle in Merger with Office Depot

Shareholders of Naperville-based OfficeMax crossed a major hurdle last week when they voted to approve a merger with rival Office Depot. 

Office Depot stockholders also voted to approve the issuance of the company's shares to OfficeMax stockholders, according to OfficeMax.

In February, Office Depot announced plans to buy OfficeMax in a $1.2 billion all-stock deal.

Other details of the merger, such as the fate of OfficeMax's Naperville headquarters, 263 Shuman Blvd., the entity's name and CEO are expected to be announced after a new CEO is hired.

Earlier: Office Depot to Buy Naperville-Based OfficeMax in $1.2 Billion Deal

Office Depot CEO Neil Austrian and OfficeMax CEO Ravi Saligram, as well as outside candidates, will be considered in the search process.

Along with its headquarters in Naperville, OfficeMax has one store location in the city at 790 Royal St. George Dr. Office Depot has two locations in Naperville, 1363 Ridgeland Ave. and 740 Route 59.

OfficeMax, based in Naperville, has roughly $7 billion in annual sales, 29,000 employees and about 900 stores in the US and Mexico. Office Depot, based in Boca Raton, Florida, has 1,675 stores world-wide, annual sales of some $11.5 billion and about 39,000 employees.