Sep 23, 2025 (MarketLine via COMTEX) --
The agreement sets the purchase price at $28 per share in cash.
The ODP Corporation, the owner of office supply retailers Office Depot and OfficeMax,? has signed a definitive agreement to be purchased by an affiliate of Atlas Holdings.A
The agreement sets the purchase price at $28 per share in cash.AA
This represents a 34% premium compared with ODPaEUR(TM)s closing share price on 19 September 2025, valuing the business at around $1bn.A
Once the acquisition is completed, ODP will become a privately held company.AA
Its common stock will subsequently be removed from listing on the Nasdaq exchange.A
The company, which is based in Boca Raton, Florida, stated that its board has approved the deal, which is expected to conclude by the end of 2025.A
The completion of the deal is subject to regulatory clearance and shareholder approval.AA
Atlas managing partner?Michael Sher said: aEURoeThe ODP CorporationaEUR(TM)s leadership has already taken several steps to mitigate the challenging retail environment, and we are the right partners to support the ODP CorporationaEUR(TM)s continued evolution in its next chapter.AA
aEURoeWe look forward to completing this transaction which will provide a positive outcome for the ODP CorporationaEUR(TM)s associates, customers, suppliers and shareholders.aEURA
Atlas Holdings manages a global portfolio of manufacturing and distribution businesses.A
JP Morgan Securities is acting as exclusive financial adviser to The ODP Corporation, with Simpson, Thacher & Bartlett serving as legal counsel.AA
Atlas Holdings is being advised by Lazard, while Willkie Farr & Gallagher is providing legal advice.A
ODP Corporation CEO Gerry Smith said: aEURoeAtlas brings an understanding of our industry, along with the operational expertise, resources and track record of supporting its companies that will fast forward our B2B growth initiatives and strengthen our position as a trusted partner to our customers.AA
aEURoeAtlasaEUR(TM) commitment demonstrates their confidence in our future and the strong momentum weaEUR(TM)ve achieved through our focus on operational excellence and disciplined execution. WeaEUR(TM)re excited about our path for the future.aEURA
In January 2021, Office Depot rejected a takeover attempt made by rival company Staples.A
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