mergers and acquisitions

Yahoo Approves $1.1B Deal for Tumblr

Yahoo's rumored $1.1 billion cash acquisition deal for social blogging site Tumblr has been approved by the company's board of directors, the Wall Street Journal reports.

Office Depot Agrees to Buy OfficeMax in Stock Deal

Office Depot said Wednesday it will buy OfficeMax in an all-stock deal that would transform office-supply retail sector. The companies said holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own. That's equal to about $13.50 per share.