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Stock Report: Bust-up talk boosts OfficeMax stock.(Markets)(Brief Article)
Crain's Chicago Business, March, 2005 by Jones, Sandra
Byline: Sandra Jones OfficeMax Inc. shares climbed 5.2% this week to $34.16, the stock's highest level since October, spurred by a big investor's push to break up or sell the embattled office supplies retailer. K Capital Partners LLC of Boston hired New York-based investment bank Blackstone Group L.P.
as its financial adviser to "explore strategic alternatives'' for OfficeMax, according to a Securities and Exchange Commission filing late last week. The investment group, OfficeMax's third-largest shareholder with a 6.2% stake, says in the filing that "the market price of the common stock does not fully reflect its intrinsic value and that extraordinary corporate action, such as a breakup or sale of the company, may be required.'' OfficeMax shares have...
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