Skip to content
Economy Watch: Market Movers Today — Investing Made Easy with Economy Watcher — Understand the Economy's Pulse

ODP Corporation to be Acquired by Atlas Holdings for $28 per Share

ODP's second quarter earnings showed a sales drop. The acquisition by Atlas Holdings promises to strengthen the company's position and facilitate its next phase of growth.

,   and  Administrator
1 min read
The picture is taken in a factory. In this picture there are carriers, staircase, railing,...
The picture is taken in a factory. In this picture there are carriers, staircase, railing, containers, lights, pipes and wall.

ODP Corporation to be Acquired by Atlas Holdings for $28 per Share

ODP Corporation is set to be acquired by an affiliate of Atlas Holdings for $28 per share in cash. This transaction, which represents a 34% premium to ODP's closing share price on Friday, values the company at about $1 billion. ODP's CEO, Gerry Smith, supports the deal, stating it will strengthen the company's position and improve its growth prospects.

ODP, which had previously explored a sale in 2022, has now agreed to be taken private by Atlas Holdings. The deal is expected to close by the end of 2025, subject to regulatory and shareholder approvals. Atlas Holdings, founded in 2002, has investments in various sectors including building materials, construction services, and paper.

ODP's second quarter earnings showed a 7.6% year-over-year drop in total reported sales to $1.6 billion. This decline was driven by lower sales in the Office Depot Division and a decrease in consumer traffic. Upon the deal's conclusion, ODP will cease trading on public markets and become a privately held company.

The acquisition of ODP by Atlas Holdings is expected to close by the end of 2025, pending approvals. This deal, supported by ODP's CEO, aims to strengthen the company's position and facilitate its next phase of growth. After the acquisition, ODP will no longer be publicly traded.

Related

Latest