Office Depot, Inc. Shareholders Overwhelmingly Approve Acquisition by Staples
June 19 2015 - 8:20AM
Business Wire
Preliminary vote count indicates a 99.5 percent
approval for the acquisition; all other ballot items also
approved
Office Depot, Inc. (NASDAQ: ODP), a leading global provider
of office products, services, and solutions, which entered
into a definitive agreement on February 4, 2015, to be acquired by
Staples Inc. (NASDAQ: SPLS), today announced that its shareholders
have overwhelmingly approved the proposal for Staples to acquire
all of the outstanding shares of the company.
At the Company’s Annual Meeting of Shareholders held today, 99.5
percent of the votes cast were in favor of the transaction.
Additionally, all other ballot items were approved.
Final vote counts are anticipated to be released in a regulatory
filing on Monday, June 22, 2015.
Under the terms of the agreement, Office Depot shareholders will
receive $7.25 in cash and 0.2188 of a share in Staples stock for
each Office Depot share. The transaction is expected to close by
the end of the calendar year 2015 and remains subject to customary
closing conditions, including antitrust regulatory approval.
About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products,
services, and solutions for every workplace – whether your
workplace is an office, home, school or car.
Office Depot, Inc. is a resource and a catalyst to help
customers work better. We are a single source for everything
customers need to be more productive, including the latest
technology, core office supplies, print and document services,
business services, facilities products, furniture, and school
essentials.
The company has annual sales of approximately $16 billion,
employs approximately 56,000 associates, and serves consumers and
businesses in 56 countries with approximately 1,800 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – all delivered through a global network of
wholly owned operations, joint ventures, franchisees, licensees and
alliance partners. The company operates under several banner brands
including Office Depot, OfficeMax, OfficeMax Grand & Toy,
Reliable and Viking. The company’s portfolio of exclusive product
brands include TUL, Foray, Brenton Studio, Ativa, WorkPro,
Realspace and HighMark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global
Select Market under the symbol ODP. Additional press information
can be found at: http://news.officedepot.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150619005397/en/
Office Depot, Inc.MediaKaren Denning,
630-864-6050Karen.Denning@officedepot.comorInvestorsMike Steele,
561-428-3657Michael.Steele@officedepot.com
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