The cash-for-stock deal creates a new powerhouse in the distribution of office products, after Essendant accepted an offer from Staples to be acquired for just under $1 billion. Essendant Inc.-a top-tier distributor that sells office and industrial products to thousands of wholesalers and resellers and also drop-ships for retailers-will become part of office supplies merchant Staples Inc. under terms the two companies announced today.
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