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ODP Names CEO for B2B Spinoff& Office Depot
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Office Depot Parent ODP Names New Post-Split Execs
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USA TODAY
Office supply chains Office Depot and Staples could soon be one and the same as far as shoppers are concerned.
The company that owns Office Depot and OfficeMax disclosed Tuesday that it had rejected an unsolicited takeover offer from the company that owns Staples. But it said it s open to an alternative deal, including combining their retail operations.
The ODP Corporation, the parent company of Office Depot, released a letter detailing its response to the offer by Sycamore Partners unit USR Parent, the private equity owner of Staples.
Staples has offered to buy ODP outright, but ODP said that offer is fraught with potential regulatory issues. A federal judge blocked a tie-up of Staples and Office Depot in 2016 after regulators objected.
Office Depot Open To Retail Business-only Acquisition By Staples, Is Selling CompuCom
Office Depot, in an open letter, says it acknowledges Staples’ primary interest in acquiring its retail and ecommerce business, and said that it has already initiated the process to sell its CompuCom business as part of a strategic review of the business. By Joseph F. Kovar January 19, 2021, 12:43 PM EST
Office Depot told Staples owner Sycamore Partners that it is open to explore the possibility of Staples acquiring Office Depot’s retail business, and that it is open to selling its non-retail business separately to make the proposed acquisition work.