OFFICE DEPOT OF MEXICO REJECTS ACQUISITION OFFER

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OFFICE DEPOT OF MEXICO REJECTS ACQUISITION OFFER

 user 2008-11-07 at 10:12:43 am Views: 102
  • #20761
    http://money.cnn.com/news/newsfeeds/articles/djf500/200810291807DOWJONESDJONLINE001006_FORTUNE5.htm
    Office Depot De Mexico Rejects Gigante Acquisition Offer
    MEXICO
    CITY – Mexican retailer Grupo Gigante SAB (GIGANTE.MX) said Wednesday
    that its joint-venture partner Office Depot Inc. (ODP) rejected
    Gigante’s offer to buy the 50% it doesn’t own of Office Depot de
    Mexico.Gigante said in a filing with the Mexican Stock Exchange that it
    is continuing discussions with Office Depot to further consolidate and
    expand.
    The acquisition offer was presented July 30.Gigante’s shares
    didn’t trade Wednesday, but closed 0.2% lower at 12.58 pesos ($0.97) in
    the previous session.