Today�s announcement that OfficeMax would be bought by Boise Cascade was one of the worst kept secrets in town as shown by its steadily rising share price over the last few months. When I first heard about the acquisition seven weeks ago it was already a �done deal,� according to my source. By that time the stock was up to $5.50 a share from a 52-week low of $3.05. When Crain�s reporter Shannon Mortland wrote about the rumored deal last month the price was north of $6 a share. By last Friday it was over $7. Boise Cascade will pay $9 a share. As the company�s largest shareholder, OfficeMax CEO Michael Feuer�s stock is now worth about $54 million. But back in 1997, he told Crain�s that he was buying more of the stock, then at $10 a share, because it �was exceptionally low and an exceptional value.� Things change.Make sure to register for your free emails from Crain's.
07/01/2002 - 08/01/2002 08/01/2002 - 09/01/2002 09/01/2002 - 10/01/2002 10/01/2002 - 11/01/2002 11/01/2002 - 12/01/2002 12/01/2002 - 01/01/2003 01/01/2003 - 02/01/2003 02/01/2003 - 03/01/2003 03/01/2003 - 04/01/2003 04/01/2003 - 05/01/2003 05/01/2003 - 06/01/2003 06/01/2003 - 07/01/2003 07/01/2003 - 08/01/2003 08/01/2003 - 09/01/2003 09/01/2003 - 10/01/2003 10/01/2003 - 11/01/2003 11/01/2003 - 12/01/2003 12/01/2003 - 01/01/2004 01/01/2004 - 02/01/2004 02/01/2004 - 03/01/2004 03/01/2004 - 04/01/2004 04/01/2004 - 05/01/2004 05/01/2004 - 06/01/2004 06/01/2004 - 07/01/2004 07/01/2004 - 08/01/2004 08/01/2004 - 09/01/2004 09/01/2004 - 10/01/2004 10/01/2004 - 11/01/2004 11/01/2004 - 12/01/2004 12/01/2004 - 01/01/2005 01/01/2005 - 02/01/2005 02/01/2005 - 03/01/2005
Subscribe to Posts [Atom]