Change seems likely for the office-supply business in Erie, but it’s not clear yet what those changes might look like.
Wire services are reporting that Office Depot, the second largest seller of office supplies, is buying Office Max, the No. 3 player in a sector that generates about $21 billion in sales annually.
Owners of Office Max stock will receive about 2.69 shares of Office Depot stock for every share of Office Max that they own. That’s equal to about $13.50 a share.
Although there’s no Office Depot currently operating in Erie, there is an Office Max at 905 Millcreek Mall.
Staples, the largest of three office supply chains, has a location on Keystone Drive in Summit Township and one on Route 322 outside Meadville in Vernon Township.
There’s been no word yet about what name the merged company will use or where its headquarters will be located.