Merchandising

Staples pursues Office Depot for a third time

Photo by istock.com

January 12, 2021

Staples has made its third offer to buy Office Depot, this time for $2.1 billion in cash, about $40 for each of the competitor's shares.

The offer, reported by Reuters, would be the third purchase attempt.

"Staples believes that its all-cash transaction is a compelling value proposition for ODP's stockholders that offers a high degree of certainty and is superior to the intrinsic, standalone value of ODP," USR Parent, the corporate name of Staples, wrote in a letter.

The first effort, back in 1997, and a second attempt in 2015 were both rejected by the Federal Trade Commission, citing anti-competitive action, according to a Fox Business report.