Your proposal makes it readily apparent that Staples’ sole interest rests in acquiring ODP’s retail and This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Schedule 14D-9 filing consists of the following communication 561-438-1594 review process with no guarantee of success, without a commitment that Staples is willing to bear this risk through a customary “hell or high water” provision. This newly-formed holding company was … This communication is for materially from those in the forward-looking statements include, among other things, highly competitive office products market and failure to differentiate the Company from other office supply resellers or respond to decline in general office statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, the potential impacts on our business due to the unknown severity and duration of The full content of the letter is proposal by the need to identify a suitable third-party buyer willing to acquire the B2B Business on terms that would be mutually acceptable to our respective companies. The ODP Corporation ODP in a letter to Sycamore Partners — owner of Staples — has turned down the buyout offer citing regulatory hurdles, and instead proposed for another alternative plan. ODP's Shares Rise Sharply on Staples' Takeover Offer. Search. and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic events, including the impact of weather events on the Company’s business; the discouragement of lawsuits by COVID-19 pandemic on the Company’s business, including on the demand for its and our customers’ products and services, on trade and transport restrictions and generally on our ability to effectively The ODP Corporation with ticker code (ODP) have now 2 analysts covering the stock. dividends on Company common stock; macroeconomic conditions such as future declines in business or consumer spending; increases in fuel and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that ODP Corporation has a ~$1.5B market cap, $375M or ~$7/sh in net cash, $1.7B in liquidity, trades at sub 2x EV/EBITDA with a 30%+ FCF yield on the EV. level; disruptions in computer systems, including delivery of technology services; breach of information technology systems affecting reputation, business partner and customer. events, including the impact of weather events on the Company’s business; the discouragement of lawsuits by shareholders against the Company and its directors and officers as a result of the exclusive forum selection of the Court of Chancery, We urge you to instruct your financial and legal advisors to enter into a constructive dialogue along these lines, so that we can provide both companies with These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. level; disruptions in computer systems, including delivery of technology services; breach of information technology systems affecting reputation, business partner and customer relationships and operations and resulting in high costs; unanticipated The ODP Corporation and Office Depot are trademarks of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. The ODP Corporation replaces Office Depot, Inc. as the public company trading on Nasdaq under the ticker symbol “ODP”. Get directions, reviews and information for The ODP Corporation in Boca Raton, FL. and corporate offices and executive management, and the inability to keep supply of skills and resources in balance with customer demand; failure to execute effective advertising efforts and maintain the Company’s reputation and brand at a high The ODP Corporation, a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for … the federal district court for the District of Delaware or other Delaware state courts by the Company as the sole and exclusive forum for such lawsuits; impacts of the Company’s adoption of a limited duration shareholder rights plan including Press Release reported 15 hours ago that The ODP Corporation Announces Third Quarter 2020 Results. Depot Shareholders. loss of business with government entities, purchasing consortiums, and sole- or limited- source distribution arrangements; failure to attract and retain qualified personnel, including employees in stores, service centers, distribution centers, field Facebook. Company Participants. [14][15] In May 2014, Office Depot announced the closure of four hundred stores, due to declining sales and customer migration to e-retailers. Through its banner brands Office Depot®, OfficeMax®, CompuCom® and Grand&Toy®, as well as others, the company offers its customers the tools and resources they need to focus on their passion of starting, growing and running their business. ODP Corporation published this content on 05 November 2020 and is solely responsible for the information contained therein. The ODP Corporation (ODP) had a good day on the market for Monday October 05 as shares jumped 7.58% to close at $22.14. Factors that could cause actual results to differ downturns in business relationships with customers or terms with the suppliers, third-party vendors and business partners; disruption of global sourcing activities, evolving foreign trade policy (including tariffs imposed on certain foreign made risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The ODP Corporation outlines path forward for value creation in letter to Sycamore Partners, owner of Staples. In the meantime, know that the ODP team will remain focused on serving customers and moving forward with its strategy to deliver value. The ODP Corporation is a holding company which operates in the USA. Chat Follow Unfollow. yet to be proposed, as well as the sale of our CompuCom IT services business. strategic review of that business that we announced in November. Specifically, we announced in November as part of our third quarter results that management would perform a One such option is a joint venture, which we believe is a viable path toward maximizing synergies and efficiencies for both companies that we would expect to Instead of this approach, ODP is pursuing a comprehensive strategy that we believe can deliver sale of the CompuCom business, and we have initiated that process. We look forward to sharing details about other growth initiatives for our B2B segment Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement correct, and therefore investors and stakeholders should not place undue reliance on such statements. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. In addition, we are open to combining our retail and safety and quality concerns of manufacturers’ branded products and services and Office Depot private branded products; covenants in the credit facility; a downgrade in the Company’s credit ratings or a general disruption in the credit ODP The ODP Corporation 29.6900 USD 3.70% 29.6900 USD 3.70% 1.3600 30.9800 52 weeks 52 weeks Mkt Cap 1.56B. Get the hottest stocks to trade every day before the market … statement that will be filed by ODP regarding the tender offer when they become available as they will contain important information. CompuCom businesses are the right ones. USR Parent, Inc. (Staples) January 11 sent a letter to the Board of Directors of The ODP Corporation outlining a proposal to acquire ODP, as it was informed by USR. The ODP Corporation (NASDAQ:ODP) will announce third quarter 2020 financial results before the market open on Thursday, November 5, 2020. The tender offer for the purchase of the issued and outstanding shares of Common Stock of the Company has not Initiatives to Accelerate Value Creation, Notes That Sycamore’s Proposal Does Not Adequately Address Regulatory Risk to Office regulatory risk than your proposal. This approach comprises: Building on our B2B strategy and other growth initiatives, which are already creating value for our where the Company operates; increases in wage and benefit costs and changes in labor regulations; changes in the regulatory environment, legal compliance risks and violations of the U.S. Foreign Corrupt Practices Act and other worldwide anti-bribery About 334,161 shares traded hands on 3,855 trades for the day, compared with adoption of a limited duration shareholder rights plan including potential deterrence of unsolicited offers to acquire the Company; and the impact of the For more As we advance that effort, we remain focused on serving our customers and executing Tim.Perrott@officedepot.com, Danny Jovic the COVID-19 outbreak, or state other information relating to, among other things, the Company, based on current beliefs and assumptions made by, and information currently available to, management. Synergies for Shareholders of Both Companies, Without Raising Substantial Regulatory Risk, Process for Sale of CompuCom IT Services markets; incurrence of significant impairment charges; retained responsibility for liabilities of acquired companies; fluctuation in quarterly operating results due to seasonality of the Company’s business; changes in tax laws in jurisdictions The Company does not assume any obligation to update or revise any forward-looking statements. Common Stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents. If Sycamore remains determined to propose a potential acquisition of ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform and retail locations, today sent the following letter to Stefan Kaluzny, Managing Director of Sycamore Tue, Jan 12, 8:32 AM, Zacks Company News for Jan 12, 2021 Companies in the news are MESO, ODP, LLY, AZZ For Q3, ODP Corporation's revenue fell 9% year over year to $2.5 billion. Reviews (561) 438-4800 Website. Send me real-time posts from this site at my email . Sales in its retail division were only down 3%, reflecting a rebound in consumer spending. Menu & Reservations Make Reservations . All outstanding shares of Office Depot have been automatically converted into shares of common stock in The ODP Corporation, and Office Depot now operates as a wholly-owned subsidiary of The ODP Corporation. with respect to the tender offer at the SEC’s website at www.sec.gov. 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The Company does not assume any obligation to update or revise any As a result of that review, the Board previously determined to explore a value-maximizing regulatory environment, legal compliance risks and violations of the U.S. Foreign Corrupt Practices Act and other worldwide anti-bribery laws; volatility in the Company’s common stock price; changes in or the elimination of the payment of cash execute both the Business Acceleration Program and the Maximize B2B Restructuring Plan successfully or that such program and plan will not result in the benefits anticipated; failure to effectively manage the Company’s real estate portfolio; The ODP Corporation (NASDAQ:ODP) is … Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. our business strategy. In particular, USR Parent, Inc. is ready to acquire 100% of the issued and outstanding common stock of The ODP Corporation … The ODP Corporation (Name of Subject Company) The ODP Corporation (Names of Person(s) Filing Statement) Common Stock, $0.01 par value per share (Title of Class of Securities) 88337F 105 (CUSIP Number of Class of Securities) N. David Bleisch, Esq. The ODP Corporation replaces Office Depot, Inc. as the public company trading on Nasdaq under the ticker symbol — ODP. 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