Office Depot rebuffs takeover offer from Staples - WSJ

[January 19, 2021]  (Reuters) - Office Depot owner ODP Corp rebuffed a more than $2 billion takeover offer from bigger rival Staples, proposing to combine only retail operations, the Wall Street Journal reported on Tuesday, citing a letter.

An Office Depot Inc store is shown in Encinitas, California, U.S., May 8, 2017. REUTERS/Mike Blake

ODP has concluded that a sale of its retail and e-commerce operations or a joint venture is preferable to a full takeover, the Journal reported https://www.wsj.com/articles/office-depot-rebuffs-takeover-offer-from-staples-11611058502?mod=latest_headlines, citing the letter, which was sent by ODP's chairman to an official of Staples' owner.

Both companies were not immediately available for comment.

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)

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