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Staples are busy again.
On Monday, Massing-based office supply chain company Framingham said it plans to acquire its rival, Office Depot, for $ 40 a share in cash, an 11% premium to Friday’s closing price.
“Staples believes that its cash transaction is a compelling value proposition for ODP’s shareholders that offers a high degree of certainty and is better than the intrinsic, independent value of ODP,” Staples’ USR Parent said in a statement. letter written. .
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| ODP | THE ODP CORP | 42.86 | +5.90 | + 15.96% |
The shares of ODP, the parent company of Office Depot, traded at $ 41 early Monday. Staples is no longer a public company, after it became private in 2017 through a $ 6.9 acquisition by private equity firm Sycamore Partners.
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The proposed acquisition would be the third time Staples has attempted to acquire Office Depot.
In 1997, the Federal Trade Commission rejected the planned commitment between the two companies, citing competitiveness. A similar plan was submitted in 2015 and rejected by the agency in 2016.
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