Framingham-Based Staples Offers $2.1B To Buy Office Depot

Framingham MA

11 January, 2021

10:49 AM

Description

FRAMINGHAM, MA — Staples is once again proposing to buy rival Office Depot in a $2.1 billion deal, five years after the US government squashed their prior merger agreement. The $40-per-share offer price for Office Depot's parent company, ODP Corp., is a roughly 60% premium over its average closing price for the last 90 trading days. The all-cash transaction, according to the Framingham-based Staples, is a "compelling value proposition" and is a "superior to the intrinsic, standalone value" of Office Depot. Read more on CBS Boston.