Office Depot Inc.(ODP) announced Friday that, after further discussions with Starboard Value LP, its Board of Directors has amended and restated the company's Bylaws to amend the deadline for stockholders to nominate candidates for election to the company's Board of Directors at the Company's 2013 annual meeting of stockholders to no later than the close of business on the tenth day following the day on which public announcement of the date of the Company's 2013 annual meeting of stockholders is made.
Starboard Value together with its affiliates owns slightly less than 15 percent of the Company's outstanding Common Stock.
On Wednesday, Office products retailer Office Depot agreed to acquire peer OfficeMax Inc. (OMX) in an all-stock merger deal valued at about $1.2 billion.
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