SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Office Depot, Inc. And Encourages Invest...
February 04 2015 - 12:10PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Office Depot, Inc. (“Office Depot”
or the “Company”) (Nasdaq: ODP) relating to the proposed buyout of
the Company by Staples, Inc. (“Staples”).
On February 4, 2015, Office Depot and Staples announced the
signing of a definitive agreement pursuant to which Staples will
acquire Office Depot in a transaction valued at approximately $6.3
billion. Under the terms of the transaction, Office Depot
shareholders are anticipated to receive $7.25 per share in cash and
0.2188 shares of Staples common stock for each Office Depot common
share they own. The transaction is expected to close the end of
calendar year 2015, though Office Depot shareholders will most
likely be asked to vote on the transaction well before that
time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Office Depot and would like
to learn more about the investigation being conducted by Brower
Piven, without cost or obligation to you, please visit our website
at http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.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