Staples Submits $2.1 Billion Offer for Office DepotJanuary 11, 2021
The deal consists of a $40-per-share offer price for ODP Corp., Office Depot’s parent company, CNN reports. Staples previously made a bid to purchase Office Depot in 2015. The $6.3 billion transaction was denied by the U.S. Federal Trade Commission (FTC) due to antitrust concerns. As part of the new proposal, Staples will divest its IT management company or its business-to-business unit to ensure FTC compliance.
Founded in 1986, Boston, Massachusetts-based Staples Inc. is a leading office-products company with annual sales of US$25 billion and more than 90,000 employees in 26 countries. For more information, visit www.staples.com.
About Office Depot
Founded in 1986, Office Depot is a Boca Raton, Florida-based global distributor of workplace products and office supplies. For more information, visit www.officedepot.com.