Paul, Weiss clients PJ Solomon and Morgan Stanley acted as joint financial advisers to Office Depot in its agreement to merge with OfficeMax for $1.2 billion. Terms of the deal call for Boca Raton, Florida-based Office Depot to issue 2.69 shares for each share of OfficeMax, valuing the smaller company at $13.50 per share. Naperville, Illinois-based Officemax will have the ability to pay dividends of up to $131 million, or $1.50 per share, before closing.
The Paul, Weiss team included corporate partners Jeffrey Marell and Tracey Zaccone.
