When a company in Fort Lauderdale succeeds in the friendly acquisition of another company, there are often many decisions that must be dealt with. Many of these decisions center on the business development of the two companies into one entity, and may involve location discussion, employees and even product lines. Acquisitions can be an effective method to expand a company or even buy out a competitor but they are also complex and can generate many large changes.
Despite efforts made by Illinois lawmakers to entice companies to remain in the state, OfficeMax, which recently went through a merger with Office Depot, will be leaving. The company was bought out by its competitor earlier this year. The corporate office of OfficeMax will be moving to Florida after it was decided that the company would do better financially in a new location.
It is unsure if the other two OfficeMax facilities in Illinois will also be relocating as a result of the merger. The date for the relocation is unknown but it will likely happen in increments in order to make sure that the transition occurs smoothly. With the merger completed, Office Depot can now focus on expanding its market and making new business goals.
There are many things to consider when a company is thinking about acquiring a new business. These types of business transactions can be exceedingly complex, taking months to negotiate. To make sure that there are no legal violations or complications, it may be a good idea for a company to seek legal representation from an experienced attorney.
Source: ABC 7, “Office Depot moving OfficeMax HQ from Naperville to FL,” Charles Thomas, Dec. 10, 2013.