Big Law
Office Depot Splits into Two Companies, Opens Up Possibility of Staples Acquisition
Office Depot parent company ODP on Wednesday said the company will separate into two independent companies, a move which opens the door to further moves by rival Staples to acquire the company.
The ODP split will result in two publicly traded companies that will still share commercial agreements that will let them continue leveraging scale in such areas as product sourcing and supply chains, the company said.
Office Depot shares rose by nearly 10 percent on the news, trading at $46.68 on Wednesday as of 2:15 p.m. ET.
