Staples (SPLS) Tops Q4 EPS by 1c; Comps Fell 1%
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Starboard Sends Letter to Staples (SPLS); Still Recommends Board Changes
March 4, 2015 9:43 AM ESTStarboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of Staples, Inc. ("Staples" or the "Company") (Nasdaq: SPLS), with a 4.5% ownership stake, announced that it has delivered a letter to the Company's Board of Directors.
The full text of the letter follows:
March 4, 2015
Members of the Board of Directors of Staples, Inc. Staples, Inc.500 Staples DriveFramingham, MA 01702
Dear Members of the Board,
As you know, Starboard Value LP (together with its affiliates, "Starboard") is currently one of the largest... More
Starboard Says Staples (SPLS)/Office Depot (ODP) Synergies 'Conservative'; Actual Synergies Could Drive Stock to $32-$37
March 4, 2015 9:43 AM ESTStarboard Value LP, a 4.5% holder, delivered a letter to the Board of Directors of Staples (Nasdaq: SPLS) commending the board for the announced acquisition of Office Depot (Nasdaq: ODP). The firm believes that announced synergies are conservative and the actual synergies could be more than $2 billion making the stock worth $32-$37 once the deal is completed.
Dear Members of the Board,
As you know, Starboard Value LP (together with its affiliates, "Starboard") is currently one of the largest shareholders of Staples, Inc.... More
