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Article updated: 2/20/2013 10:27 AM

Office Depot to buy OfficeMax in stock deal

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Naperville-based Office Max has agreed to merge with Boca Raton, Fla-based Office Delpot.

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Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector.Boca Raton, Fla.-based Office Depot Inc. and Naperville-based OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own.