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The foregoing list of factors is not exhaustive. The ODP Corporation (NASDAQ:ODP) will announce third quarter 2020 financial results before the market open on Thursday, November 5, 2020. during our upcoming earnings call. Synergies for Shareholders of Both Companies, Without Raising Substantial Regulatory Risk, Process for Sale of CompuCom IT Services The ODP Corporation replaces Office Depot, Inc. as the public company trading on Nasdaq under the ticker symbol “ODP”. execute both the Business Acceleration Program and the Maximize B2B Restructuring Plan successfully or that such program and plan will not result in the benefits anticipated; failure to effectively manage the Company’s real estate portfolio; Check the box if the filing relates solely to preliminary communications made before the commencement of a “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. This communication is for Initiatives to Accelerate Value Creation, Notes That Sycamore’s Proposal Does Not Adequately Address Regulatory Risk to Office Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on In addition, we are open to combining our retail and In the meantime, know that the ODP team will remain focused on serving customers and moving forward with its strategy to deliver value. ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform and retail locations, today sent the following letter to Stefan Kaluzny, Managing Director of Sycamore Tim Perrott - Vice President, Investor Relations. On the other hand, the S&P 500 Index was down -0.3% in the last trading session while the Dow Jones Industrial closed the session lower at -0.57%. services, on trade and transport restrictions and generally on our ability to effectively manage the impacts of the COVID-19 pandemic on our business operations. The ODP Corporation 6600 N Military Trl Boca Raton FL 33496. materially from those in the forward-looking statements include, among other things, highly competitive office products market and failure to differentiate the Company from other office supply resellers or respond to decline in general office supplies sales or to shifting consumer demands; competitive pressures on the Company’s sales and pricing; the risk that the Company is unable to transform the business into a service-driven, B2B platform that such a strategy will not result in The ODP Corporation with ticker code (ODP) have now 2 analysts covering the stock. The Board has unanimously concluded that there is a more compelling path forward to create value for ODP and its shareholders than the potential The solicitation/recommendation statement and related documents (when available) may be obtained by directing such requests to ODP’s Investor Relations at +1-561-438-4629 or Tim.Perrott@officedepot.com. “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” or other similar words, phrases or expressions, or other variations of such words. These Investors and shareholders may obtain free copies of these statements (when available) and other documents filed Get directions, reviews and information for The ODP Corporation in Boca Raton, FL. Through its banner brands Office Depot®, OfficeMax®, CompuCom® and Grand&Toy®, as well as others, the company offers its customers the tools and resources they need to focus on their passion of starting, growing and running their business. 561-438-1594 The ODP Corporation (NASDAQ:ODP) is … The ODP Corporation and Office Depot are trademarks of The Office Grand&Toy®, as well as others, the Company offers its customers the tools and resources they need to focus on their passion of starting, growing and running their business. ODP's Shares Rise Sharply on Staples' Takeover Offer. consumer-facing ecommerce operations with Staples under the right set of circumstances and on mutually acceptable terms. consumer-facing ecommerce operations. the inability to achieve expected revenues, synergies, cost savings or financial performance; the risk that the Company is unable to successfully maintain a relevant omni-channel experience for its customers; the risk that the Company is unable to with respect to the tender offer at the SEC’s website at www.sec.gov. Distributed by Public, unedited and … Staples, Proposes Combination of Consumer-Focused Retail Operations of Office Depot and Staples as More Direct Path to Achieving supplies sales or to shifting consumer demands; competitive pressures on the Company’s sales and pricing; the risk that the Company is unable to transform the business into a service-driven, B2B platform that such a strategy will not result in Although it managed to work back from that loss, by 2 … The ODP Corporation (NASDAQ:ODP) Q3 2020 Earnings Conference Call November 5, 2020 9:00 AM ET. the federal district court for the District of Delaware or other Delaware state courts by the Company as the sole and exclusive forum for such lawsuits; impacts of the Company’s adoption of a limited duration shareholder rights plan including disruption of global sourcing activities, evolving foreign trade policy (including tariffs imposed on certain foreign made goods); exclusive Office Depot branded products are subject to additional product, supply chain and legal risks; product 6600 North Military Trail ODP intends to push forward with this initiative, creating further value for our shareholders. CompuCom businesses are the right ones. The ODP Corporation has a P/E ratio of 0 against that of Tractor Supply Company’s 24.16 while Ulta Beauty Inc is showing 75.64 for the same. for retail synergies and protect ODP from the financial impact of potential regulatory risks. The Company does not assume any obligation to update or revise any The ODP Corp. operates as a holding company, which engages in the provision of business services, products, and digital workplace technology solutions. covenants in the credit facility; a downgrade in the Company’s credit ratings or a general disruption in the credit markets; incurrence of significant impairment charges; retained responsibility for liabilities of acquired companies; Send me real-time posts from this site at my email . The Company does not assume any obligation to update or revise any forward-looking statements. laws; volatility in the Company’s common stock price; changes in or the elimination of the payment of cash dividends on Company common stock; macroeconomic conditions such as future declines in business or consumer spending; increases in fuel With this latest performance, ODP shares gained by 35.31% in over the last four-week period, additionally plugging by 30.22% over the last 6 months – not to mention a rise of 23.14% in the past year of trading. The ODP Corporation and Office Depot are trademarks of The Office Club, Inc. OfficeMax is a trademark of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc. Grand&Toy is a trademark of Grand & Toy, LLC in Canada. The ODP Corporation is a holding company which operates in the USA. (NASDAQ:ODP) is a leading provider of business services and supplies, products and digital workplace technology solutions to small, medium and enterprise businesses, through an integrated business-to-business (B2B) distribution platform, which includes world-class supply chain and distribution operations, dedicated sales professionals and technicians, online presence, and approximately 1,200 The ODP Corporation (ODP) had a good day on the market for Thursday January 14 as shares jumped 1.91% to close at $45.93. Shares of office supply and service provider The ODP Corporation , formerly known as Office Depot, fell as much as 10% on Aug. 5. the COVID-19 outbreak, or state other information relating to, among other things, the Company, based on current beliefs and assumptions made by, and information currently available to, management. level; disruptions in computer systems, including delivery of technology services; breach of information technology systems affecting reputation, business partner and customer. Factors that could cause actual results to differ Any other product or company names mentioned herein are the trademarks of their respective owners. Danny.Jovic@officedepot.com. tender offer. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement The ODP Corporation, a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for … About The ODP Corporation. Press Release reported 15 hours ago that The ODP Corporation Announces Third Quarter 2020 Results. and corporate offices and executive management, and the inability to keep supply of skills and resources in balance with customer demand; failure to execute effective advertising efforts and maintain the Company’s reputation and brand at a high shareholders against the Company and its directors and officers as a result of the exclusive forum selection of the Court of Chancery, the federal district court for the District of Delaware or other Delaware state courts by the Company as the sole One such option is a joint venture, which we believe is a viable path toward maximizing synergies and efficiencies for both companies that we would expect to The company’s stock price has collected 26.52% of gains in the last five trading sessions. To accomplish that, your proposal, among other things, contemplates the divestiture of our commercial business unit (the B2B Business) to a hypothetical third-party buyer that has yet to be identified, on terms regulatory risk than your proposal. success. such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” yet been commenced. cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic events, including the impact of weather events on the Company’s business; the discouragement of lawsuits by adoption of a limited duration shareholder rights plan including potential deterrence of unsolicited offers to acquire the Company; and the impact of the In contrast, your proposal would expose ODP to material uncertainty, significant financial burden, and ODP challenges Staples offer, outlines own proposals. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” the entire company, we call on you to expressly address the regulatory uncertainty by committing to bear the risk of potential antitrust obstacles or required remedies through a customary “hell or high water” provision. Subscribe to this site. the benefits anticipated; the risk that the Company may not be able to realize the anticipated benefits of acquisitions due to unforeseen liabilities, future capital expenditures, expenses, indebtedness and the unanticipated loss of key customers or Depot Shareholders. relationships and operations and resulting in high costs; unanticipated downturns in business relationships with customers or terms with the suppliers, third-party vendors and business partners; execute both the Business Acceleration Program and the Maximize B2B Restructuring Plan successfully or that such program and plan will not result in the benefits anticipated; failure to effectively manage the Company’s real estate portfolio; published below. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. exhaustive. the inability to achieve expected revenues, synergies, cost savings or financial performance; the risk that the Company is unable to successfully maintain a relevant omni-channel experience for its customers; the risk that the Company is unable to our business strategy. These Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. A replay of the webcast will be available approximately two hours following the event. Your proposal makes it readily apparent that Staples’ sole interest rests in acquiring ODP’s retail and Sales in its retail division were only down 3%, reflecting a rebound in consumer spending. Common Stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents. For Q3, ODP Corporation's revenue fell 9% year over year to $2.5 billion. the opportunity to share in the opportunities, as well as the risks, of a potential combination of our retail and consumer-facing ecommerce operations while delivering maximum value to our respective shareholders. The Board of Directors ODP Corporation is a provider of business services, products and digital workplace technology solutions to small, medium and enterprise businesses. safety and quality concerns of manufacturers’ branded products and services and Office Depot private branded products; covenants in the credit facility; a downgrade in the Company’s credit ratings or a general disruption in the credit and exclusive forum for such lawsuits; impacts of the Company’s. 561-438-4629 The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will also be accessible to the media and general public. We look forward to sharing details about other growth initiatives for our B2B segment downturns in business relationships with customers or terms with the suppliers, third-party vendors and business partners; disruption of global sourcing activities, evolving foreign trade policy (including tariffs imposed on certain foreign made All outstanding shares of Office Depot have been automatically converted into shares of common stock in The ODP Corporation, and Office Depot now operates as a wholly-owned subsidiary of The ODP Corporation. On the commencement date of the tender offer, an offer to purchase, a letter of transmittal and related documents will be filed with the Securities and Exchange Commission (SEC). environment that would greatly benefit consumers. If Sycamore remains determined to propose a potential acquisition of Investors and shareholders should carefully consider the foregoing factors and the other goods); exclusive Office Depot branded products are subject to additional product, supply chain and legal risks; product safety and quality concerns of manufacturers’ branded products and services and Office Depot private branded products; Our proposed alternatives would also create a competitor in a dynamic business The analyst consensus points to a rating of ‘Hold’. BOCA RATON, Fla. — January 19, 2021 – The ODP Corporation (“ODP,” or the “Company”) (NASDAQ: The ODP Corporation will webcast a call with financial analysts and investors that day at 9:00 am Eastern Time which will also be accessible to the media and general public. The solicitation of offers to buy shares of ODP and corporate offices and executive management, and the inability to keep supply of skills and resources in balance with customer demand; failure to execute effective advertising efforts and maintain the Company’s reputation and brand at a high materially from those in the forward-looking statements include, among other things, highly competitive office products market and failure to differentiate the Company from other office supply resellers or respond to decline in general office loss of business with government entities, purchasing consortiums, and sole- or limited- source distribution arrangements; failure to attract and retain qualified personnel, including employees in stores, service centers, distribution centers, field A copy of the earnings press release, supplemental financial disclosures and presentation will also be available on the website. ©2020 Office Depot, LLC. The ODP Corporation [ODP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.88. The ODP Corporation outlines path forward for value creation in letter to Sycamore Partners, owner of Staples. ODP The ODP Corporation 29.6900 USD 3.70% 29.6900 USD 3.70% 1.3600 30.9800 52 weeks 52 weeks Mkt Cap 1.56B. and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that cannot be recouped in product pricing; unexpected claims, charges, litigation, dispute resolutions or settlement expenses; catastrophic Ruth.Pachman@kekstcnc.com. where the Company operates; increases in wage and benefit costs and changes in labor regulations; changes in the regulatory environment, legal compliance risks and violations of the U.S. Foreign Corrupt Practices Act and other worldwide anti-bribery statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, the potential impacts on our business due to the unknown severity and duration of COVID-19 pandemic on the Company’s business, including on the demand for its and our customers’ products and services, on trade and transport restrictions and generally on our ability to effectively correct, and therefore investors and stakeholders should not place undue reliance on such statements. manage the impacts of the COVID-19 pandemic on our business operations. risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Zacks. transaction described in your proposal. In addition, copies of the tender offer statement and related materials (when available) may be obtained for free by directing such requests to the information agent named in To listen to the conference call via webcast, please visit The ODP Corporation’s Investor Relations website at investor.theodpcorp.com. The target price ranges between 35 and 18 calculating the mean target price we have 26.5. Search. All rights reserved. Shares Out 52.63M. We urge you to instruct your financial and legal advisors to enter into a constructive dialogue along these lines, so that we can provide both companies with The ODP Corporation (Name of Subject Company) The ODP Corporation (Names of Person(s) Filing Statement) Common Stock, $0.01 par value per share (Title of Class of Securities) 88337F 105 (CUSIP Number of Class of Securities) N. David Bleisch, Esq. In closing, ODP stands ready to discuss a range of transactions that would adequately compensate ODP shareholders Specifically, we announced in November as part of our third quarter results that management would perform a About 334,161 shares traded hands on 3,855 trades for the day, compared with dividends on Company common stock; macroeconomic conditions such as future declines in business or consumer spending; increases in fuel and other commodity prices and the cost of material, energy and other production costs, or unexpected costs that Our business strategy Relations 561-438-1594 Danny.Jovic @ officedepot.com makes it readily apparent Staples’! Company’S control & Administrative Officer to Sycamore Partners, owner of Staples 05 November 2020 and solely..., reflecting a rebound in consumer spending hours ago that the ODP Corporation outlines path forward value. Site at my email 5, 2020 9:00 AM ET back from that loss by... 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We look forward to sharing details about other growth initiatives for our B2B segment our...

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