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.
Staples Offers $1B for Office Depot s Consumer Unit in New Bid
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UPDATE: Staples Offers to Acquire ODP Corporation (ODP) Consumer Business for $18 27/Share
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