Staples Proposes to Acquire Office Depot

The all-cash offer has been received by ODP Corp.
Posted January 12, 2021

USR Parent Inc., which owns office supply retailer Staples (Framingham, Mass.), has proposed to purchase 100% of the issued and outstanding common stock of The ODP Corp. (Boca Raton, Fla.), parent company of retailer Office Depot, according to a press release.

Staples has sent a letter to the Board of Directors of The OPD Corp. outlining a proposal to acquire ODP for $40 per share in cash. If accepted, the transaction is subject to approval from the FTC and Canadian Competition Bureau.