OFFICE DEPOT INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Office Depot, Inc. Over the Proposed Sale of the Company to Staples - ODP
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Office Depot, Inc. (“Office Depot” or the “Company”) (NASDAQ: ODP) for potential breaches of fiduciary duties in connection with the sale of the Company to Staples, Inc. (NASDAQ: SPLS) for approximately $6.3 billion in a cash and stock transaction. The Company’s stockholders will receive $7.25 in cash and 0.2188 shares of Staples for each share of Office Depot common stock they own, which values the consideration for Office Depot Shareholders at $11.41 per share.
The investigation focuses on whether Office Depot’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Office Depot’s shareholders.
If you own common stock in Office Depot and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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