OFFICE DEPOT SHAREHOLDERS: Johnson & Weaver, LLP Announces Investigation of the Proposed Buyout of Office Depot, Inc. by Stap...
February 04 2015 - 8:56AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP is
investigating whether members of the board of directors of Office
Depot, Inc. (NASDAQ: ODP) breached their fiduciary duties in
connection with the proposed buyout of the Company by Staples,
Inc.
On February 4, 2015 Staples entered into a definitive merger
agreement to buy Office Depot. Under the terms of the agreement,
Office Depot shareholders will receive, for each Office Depot
share, $7.25 in cash and 0.2188 of a share in Staples stock at
closing. Based on Staples closing share price on February 2, 2015,
the transaction values Office Depot at $11.00 per share. Office
Depot shareholders will be subject to the future price fluctuation
of Staples stock price.
The investigation concerns whether Office Depot’s board members
failed to satisfy their duties to the Company’s shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Office Depot’s shares of common stock.
If you are a shareholder of Office Depot and believe that the
proposed buyout price is too low and you are interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver,
LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jun 2024 to Jul 2024
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jul 2023 to Jul 2024