OfficeMax starts share repurchase offer


30 March 2005 – Itasca (IL): OfficeMax has disclosed that it has started a tender offer to buy back shares to the value of $799 million, as part of a grand plan to return excess capital to its shareholders.

As many as 23.5 million shares, or 25 per cent of the company’s total outstanding common stock, will be bought at a price between $30 and $34.

The offer is to expire on 28 April.