Grupo Gigante SAB, a Mexican owner of office-supply stores, has lined up financing from Credit Suisse Group AG and Banco Bilbao Vizcaya Argentaria SA for its proposed takeover of Boca Raton-based Office Depot Inc.’s local unit, a person with knowledge of the matter said.
Gigante, which already owns half of the unit, has received indications from Office Depot that its offer to buy the rest for $700 million will be accepted as soon as next week, said the person, who asked not to be named because the discussions are confidential. Office Depot shares rose as much as 2.8 percent today before trimming gains to 0.9 percent at 2:21 p.m. in New York. Gigante shares were unchanged.
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