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U.S. Morning Call: Office Depot, OfficeMax in merger talks

Monday, Feb 18, 2013 - 04:19

Feb 19 - Office Depot is in advanced talks to merge with smaller rival OfficeMax and a deal could come as early as this week.

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Good morning call for Tuesday Office Depot and office Max organizing a merger that -- as quick as this week. -- big player in shaping the potential deal Neuberger Berman one of office Max is top investors with 5% stake. Last June the portfolio manager had not opposite -- to return money to shareholders in the form of the dividend or share buybacks. Raising the Specter. Office Depot has also come under pressure what activist hedge funds starboard value urging it last September. To make some drastic cost cuts and take other steps to improve performance. Analysts are not too concerned about the FTC blocking the deal although in 1997 the agency stopped and four billion dollar merger Office Depot and staples. Saying it would leap higher prices for customers. But with mass -- target and Amazon becoming bigger players in the sector competitive pricing is no longer an issue. Both Office Depot and office Max trail industry leader staples which has a market cap of eight point seven billion dollars. Turning out some stocks to watch starting with apple shares are trading up slightly in the premarket. Ahead of today's court hearing over a lawsuit brought by David Einhorn scream like capital. I weren't seeking to block the February 27 shareholder vote to eliminate preferred stock from the company's charter. The hedge fun head reiterated his argument to a federal judge for a boat block late last week saying quote. Apple should not be allowed to substitute its judgment friction holder's judgment. At a Goldman Sachs technology conference apple CEO Tim Cook called the C eight sideshow. But said the board isn't very active discussions on how to share import its money with shareholders. Another stock to keep your eye on DreamWorks Animation. Russian developer regions group. Saying it plans to invest around three billion dollars in the construction of three theme parks under a licensing agreement with the California based animation studio. The parks are scheduled opening in 2015. In Moscow. So just authorities say they have not yet been asked to help US investigation into alleged insider trading in call options a Heinz. Even -- Zurich account is at heart of the matter. He cannot question or the G Essex County is the SEC calls it was used to -- more than one point seven million from trading in advance of the -- deal announcement. GS stands for Goldman Sachs and the banks say it is think we're operating with the SEC probe. With the assets frozen the SEC does not need immediate assistance from the Swiss although they may eventually help in figuring out the account holders. Not to earnings don't releases results today after the bell as it tries to go private in one of the biggest Leveraged Buyouts since the financial crisis. This -- pan out to be an interest earnings call. It Dell exceeds expectations. Too low priced in southeastern asset management that too large investors who oppose the deal. May say we need a better off far but if the company missed that Michael Dell gets his way. Given their recent lackluster data on PC sales and l.'s current standing among rivals. Analysts think it's unlikely to result we'll have a positive upside. We also got married reporting after the close the hotel operators expected to benefit from increased corporate travel mainly in North America its biggest market. However global sales will be under pressure hurt by it weaker euros. And keep an eye on shares of -- the company that I come Logan act made it -- all bickering over. Reports results today. Not to markets US stock futures are putting too hot soak in and later this morning. -- it taste -- some housing data when the national association of homebuilders reports this February. The -- index that's expected to come in and not to hire signaling a steady recovery. For the sector. That's every Tuesday morning car never follow us on Twitter at Reuters Insider they get more latest videos -- Reuters dot com slash TV. I'm Lisa Bernhard this is way.

U.S. Morning Call: Office Depot, OfficeMax in merger talks

Monday, Feb 18, 2013 - 04:19

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