Staples Proposes To Acquire ODP's Consumer Business For $1.0 Bln Or $18.27/share
FRAMINGHAM (dpa-AFX) - Staples, known as USR Parent, Inc., on Friday floated a proposal to acquire ODP Corp.'s consumer business for $1.0 billion or $18.27 per share in cash. ODP's consumer business includes the Office Depot and OfficeMax retail stores business, the direct channel business (officedepot.com), and the Office Depot and OfficeMax intellectual property, including all brand names.
In a letter sent to the Board of Directors of ODP, staples said the cash consideration of approximately $18.27 per common share represents approximately 43% of the 30 day average closing share price for the Company of $43.21 as of June 2, 2021.