Office Depot, OfficeMax close deal
NEW YORK Nov 5 (Reuters) - No. 2 U.S. office retailer Office Depot Inc on Tuesday closed its deal to buy smaller rival OfficeMax Inc and named the two company's existing chief executives as co-CEOs of the combined company.
The news came on the same day that both companies reported third-quarter results that missed Wall Street's profit on weak sales.
Last week, the companies got regulatory approval for their$976 million deal aimed at cutting costs, consolidating stores, boosting clout with suppliers and improving chances of fighting market leader Staples Inc and online and discount rivals.
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