New York, NY -- (SBWIRE) -- 02/25/2013 -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of OfficeMax Incorporated (OMX) by Office Depot, Inc. (NYSE:ODP). OfficeMax, together with its subsidiaries, distributes business-to-business and retail office products.
On February 20, 2013, OfficeMax and Office Depot announced a definitive merger agreement whereby the companies will combine in an all-stock merger. OfficeMax shareholders will receive 2.69 Office Depot common shares for each share of OfficeMax common stock, an implied cash value of $13.50.
Robbins Arroyo LLP's investigation focuses on whether the board of directors at OfficeMax is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in light of the proposed acquisition. The merger consideration is below the $15.00 target price of Sidoti and Co. and the $17.00 target price of B. Riley and Co.
Find out more on ODP here: http://www.wallstreetscoop.net/market-scan/?symbol=ODP
Texas Instruments Inc. (NASDAQ:TXN) said it will increase its quarterly dividend by 33 percent, from $0.21 per share to $0.28, payable May 20, 2013, to shareholders of record on April 30, 2013. Annualized, the new dividend will be $1.12. The dividend announcement will be the 10th consecutive year of dividend increases.
Additionally, TI authorized the repurchase of an additional $5 billion of its common stock bringing the total outstanding authorization to $8.4 billion.
Texas Instruments semiconductor innovations help 90,000 customers unlock the possibilities of the world as it could be – smarter, safer, greener, healthier and more fun.
Get the latest trend analysis report on TXN here:
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