Staples To Evaluate All Alternatives In Its Pursuit Of ODP

USR Parent Inc., the Sycamore-affiliated owner of Staples, said that it will evaluate all alternatives in its pursuit of ODP Corp. (ODP), including all of ODP or certain select assets. The assets may include ODP's retail and consumer facing business, its business operations in Canada and certain other assets.

Accordingly, Staples has decided to defer the March 2021 launch of a tender offer for ODP's common shares.

Staples has previously filed Hart-Scott-Rodino and Canadian Competition Bureau notifications with respect to proposed Staples/ ODP business combination.

Staples noted that it is continuing to work diligently with both the Federal Trade Commission and the Canadian Competition Bureau to obtain clearance for the proposed transaction as expeditiously as possible.

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