Office Depot (ODP), Staples (SPLS) Merger 'Unlikely', Citi Says
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BofA/Merrill Lynch Upgrades Staples, Inc. (SPLS) Two-Notches to Buy; Sees Likely Office Depot (ODP) Deal
December 12, 2014 7:31 AM ESTBofA/Merrill Lynch upgraded Staples, Inc. (NASDAQ: SPLS) from Underperform to Buy with a price target of $20.00 (from $10.00), saying a combination with Office Depot (NASDAQ: ODP) (Buy, PT raised to $9.50) is more likely.
Denise Chai said a possible acquisition of Office Depot by... More
Starboard Confident FCC Would Approve Staples (SPLS), Office Depot (ODP) Combo - Bloomberg
December 11, 2014 3:31 PM ESTStarboard Value is confident the FCC would approve a Staples (NASDAQ: SPLS) and Office Depot (NASDAQ: ODP) merger, sources told Bloomberg. The hedge fund, which owns stakes in both companies, plans to push the retailers to merge, cut overlapping expenses, and reduce the number of stores.
... MoreStarboard Confirms New 5.1% Stake in Staples (SPLS); Could Push for Office Depot (ODP) Merger
December 11, 2014 6:46 AM ESTIn a 13D filing on Staples Inc. (NASDAQ: SPLS), activist hedge fund Starboard Value LP disclosed a 5.1%, or 32,361,574 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending September 30, 2014.
The stake confirms reports overnight from the Wall... More
Starboard Value Builds New Stake in Staples (SPLS), Raises Office Depot (ODP); May Seek Merger - WSJ
December 10, 2014 9:36 PM ESTStarboard Value has built an approximately 6% stake in Staples (NASDAQ: SPLS) and increased its ownership in Office Depot (NASDAQ: ODP) to approximately 10%, the Wall Street Journal reported late Wednesday citing people familiar with the matter. The activist... More
