OfficeMax Investors Urge Breakup or Sale
From Bloomberg News
A group of OfficeMax Inc. investors urged management to consider breaking up or selling the office supplies retailer and hired Blackstone Group to explore alternatives for the company.
K Capital Partners, which owns almost 6 million shares of OfficeMax, said the stock price was undervalued, according to a filing with the Securities and Exchange Commission.
Shares of OfficeMax rose 20 cents to $34.16 on the New York Stock Exchange.
From Bloomberg News
* Staples Inc. named Chief Executive Ron Sargent as its chairman. He succeeds co-founder Thomas Stemberg, who stepped down a week ago.
