Shares of office supply retailing company, The ODP Corporation (ODP) are climbing more than 4% Friday morning.
The company today said its Board has decided to delay the previously announced company's separation to evaluate a potential sale of its consumer business.
In May 2021, ODP's Board had approved a plan to spin-off the company into two publicly-traded companies.
In December 2021, ODP had said that its Board received a non-binding proposal from another third party to acquire the ODP's consumer business.
"We look forward to further evaluating the potential sale of ODP's consumer business to determine whether a sale may provide greater value for our shareholders than a public company separation," said Gerry Smith, chief executive officer of The ODP Corporation.
ODP, currently at $43.03, has been trading in the range of $34.02- $51.40 in the last one year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.