Staples Renews Offer for Office Depot’s Consumer Business
USR Parent, Inc., otherwise known as Staples, has renewed its offer to purchase the consumer business of ODP Corporation, the parent company of Office Depot and Office Max. Staples is offering $1.0 billion, an offer it first made on June 4, 2021.
Staples said that in November 2020, it had filed necessary governmental approvals with the U.S. Federal Trade Commission to acquire Office Depot’s consumer business, and “has made substantial progress responding to the government’s data requests and inquiries.” It also said it’s confident it will obtain necessary U.S. antitrust approvals.
Staples’ purchase offer includes about 1,100 Office Depot and OfficeMax retail stores, the officedepot.com ecommeric website, and Office Depot and OfficeMax intellectual property, including all brand names.
For its part, in May 2021, ODP reported that its board had approved a plan to split the company into two publicly traded companies. Under the plan ODP would retain its retail consumer and small-business products and services division. ODP expects to complete the separation by the first half of 2022.
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