TAKEOVERTIME FOR OFFICEMAX ?

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TAKEOVERTIME FOR OFFICEMAX ?

 user 2007-05-14 at 10:34:00 am Views: 57
  • #18083

    Takeover time for OfficeMax?
    May
    2007 — Naperville (IL): Analyst speculation regarding a takeover of
    OfficeMax had boosted the retailer’s shares by almost eight
    percent.Credit Suisse analyst Gary Balter has suggested that “the time
    might be ripe for acquisitions in several hardline retail sectors,”
    according to the AP newswire.Balter believes an acquisition of
    OfficeMax by its rivals Office Depot or Staples could help cut
    infrastructure and purchasing costs and speculated that such a takeover
    could already have been considered.Balter said: “Office Depot
    management has commented on ‘maintaining balance sheet flexibility,’
    while OfficeMax has taken what we view as an overly pessimistic view of
    its own business leading to a sharp sell of its shares.”He added: “We
    have already seen consolidation in the most mature segments of
    retailing, including supermarkets and department stores, and we believe
    that we are on the verge of this spreading to at least three hardlines
    sub-sectors: office products, automotive products and bookstores.”