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Office supply market leader Staples confirmed Wednesday that it would acquire No. 2-ranked rival Office Depot in a cash and stock deal to create a combined company with more than 4,000 locations and annual sales of nearly $39 billion. (Associated Press)

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FILE - This Nov. 1, 2013 file photo shows the exterior of an Office Max store in Chicago. Office Depot is planning to close at least 400 U.S. stores, as its merger with OfficeMax resulted in an overlap of retail locations that can be consolidated. The office supply retailer had 1,900 stores in the U.S. at the end of the first quarter, so the plans call for closing about 21 percent of them. Office Depot and OfficeMax Inc. completed their $1.2 billion deal last November. (AP Photo/Charles Rex Arbogast, File)

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** FILE ** Sales advertisements are on display at an Office Depot in Mountain View, Calif., on July 12, 2010. (Associated Press)

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**FILE** Sales advertisements are on display at an Office Depot in Mountain View, Calif., on July 12, 2010. (Associated Press)

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** FILE ** Sales advertisements are on display at an Office Depot in Mountain View, Calif., on July 12, 2010. (Associated Press)