OFFICE DEPOT OF MEXICO REJECTS ACQUISITION OFFER

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OFFICE DEPOT OF MEXICO REJECTS ACQUISITION OFFER

 user 2008-11-07 at 10:11:30 am Views: 104
  • #20576

    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.