Office Depot jumps 20% after Staples offers to buy the company for $2.1 billion
Matthew FoxJan 12, 2021, 02:54 IST
A view of the Office Depot store in Annapolis, Wednesday, March 25, 2020.Susan Walsh/AP Photo
The parent company of
Staples offered to acquire the company for $40 per share, or $2.1 billion.
This would be Staples' third attempt at buying Office Depot in the last 25 years. In 2015, the FTC said Staples' proposed acquisition of Office Depot for more than $6 billion would violate anti-trust law.
Staples went private in 2017 after it sold itself to Sycamore Partners.
The ODP Corporation, parent company of Office Depot, soared as much as 20% on Monday after Staples offered to buy the company for the third time in 25 years.