Thu, Feb. 5, 10:14 AM
- Janney Capital thinks Staples (NASDAQ:SPLS) was a little conservative when it estimated $1.6B in deal synergies from a merger with Office Depot (NASDAQ:ODP).
- The investment firm sees fair value on Staples at $22.
- Other analysis on the deal isn't quite so optimistic.
- Staples will inherit another 2K stores that collectively haven't put up a positive comp since 2007, notes Harvard professor Rajiv Lal.
- Another breakdown: SA contributor Dallas Salazar
- Previously: Staples acquires Office Depot for $6.3B (Feb. 04 2015)
- Shares of Staples are up 0.84% to $16.91 today. Office Depot (ODP) is hanging steady at $9.47 vs. the implied deal price of $11.
Wed, Feb. 4, 7:09 AM
- Staples (NASDAQ:SPLS) announces it will acquire Office Depot (NASDAQ:ODP) for $6.3B.
- The transaction values Office Depot at $11.00 per share vs. yesterday's closing price of $9.28.
- The company expects to generate at least $1B in annualized cost synergies.
- A closing before the end of the year is anticipated after a regulatory review is completed.
- Shares of ODP are currently halted.
Tue, Feb. 3, 10:09 AM
- Shares of Office Depot (NASDAQ:ODP) are up 19.7% and Staples (NASDAQ:SPLS) has run up an 11% gain as investors discount any concerns that regulators will get in the way of an office supply store mega-merger.
- Retail analysts think significant cost savings could be derived from a merger as the combined store count of the chains is reduced.
- Staples has over 3.8K stores, while the Office Depot/OfficeMax count is over 2K.
- Previously: Staples, Office Depot in advanced talks to combine
Tue, Feb. 3, 2:03 AM
- Facing pressure from activist investor Starboard Value, WSJ reports that Staples (NASDAQ:SPLS) and Office Depot (NASDAQ:ODP) are in advanced talks to merge.
- Regulators nixed Staples' attempt to buy Office Depot in 1997, but the FTC approved Office Depot's $976M acquisition of OfficeMax in 2013 without the need to close any stores.
- The price and structure of the proposed deal couldn’t be learned.
- SPLS +5.2%; ODP +13% premarket
Dec. 11, 2014, 12:19 PM
- Starboard Value will push for a merger between Staples (SPLS +8.2%) and Office Depot (ODP +13.2%), according to reports.
- Though a merger between the two retail chains has been bantered around before, Starboard might have the clout to take the discussion into the boardroom.
- Citi calls a mega office supply store merger unlikely.
- Previously: Big moves in office supply sector after Starboard buys and raises
Dec. 11, 2014, 1:49 AM
- Activist investor Starboard Value has bought a 6% stake in Staples (NASDAQ:SPLS) and raised its stake in Office Depot (NASDAQ:ODP) to 10%, in a move that could increase pressure for a combination of the office-supply retailers, WSJ reports.
- If Starboard pushes for a deal, it would be the second time in recent months it pursued a merger of competitors, having called for a Yahoo-AOL combo since September.
- Staples closed up 2.5% yesterday, Office Depot ended up 2.7%.
May. 5, 2014, 8:55 AM
- Staples (SPLS) is acquiring PNI Digital Media (PNDMF), a Vancouver-based provider of digital media software/services for retailers, for C$1.70/share, or C$73.1M ($67.1M). The price represents a 32% premium to PNI's Friday close in Toronto.
- PNI's software platform allows retailers to offer online photo printing, photo kiosks, document printing, and personalized greeting card services, among other things. Customers include Walmart, Costco, Walgreens, and Staples rival Office Depot.
- Staples says PNI is "expected to operate independently," and to "continue growing its customer base with Staples' support while maintaining the necessary resources to consistently meet its customers needs."
- PNI shareholders owning 17.8% of shares have given their support to the deal ahead of a special meeting due on or around July 8.
Feb. 19, 2013, 7:03 AMAntitrust attorneys think that a potential merger between Office Depot (ODP) and OfficeMax could face stiff headwinds from the Federal Trade Commission, although the pairing stands a better chance than if Staples (SPLS) were to try to combine with either company. Early investor reaction: ODP +11.2% premarket and OMX +13.1%. | Comment!
Jan. 22, 2013, 12:45 PMCredit Suisse thinks the time is ripe for the long-awaited merger between Office Depot (ODP -2.6%) and OfficeMax (OMX +0.3%) to finally occur. A combined company could create some synergistic opportunities and give Staples (SPLS +0.8%) something to think about in the sector. But is it too late to catch the wave? Shares of OfficeMax and Office Depot have already drawn investors in this year on M&A speculation, up 13% and 38% YTD respectively. | Comment!
Sep. 13, 2012, 3:58 PMStaples (SPLS +4%) spikes higher as Fortune's Dan Primack reports several P-E firms are eying the office supplies chain. Among the firms is Bain Capital, which (as Mitt Romney reminds us) helped launch Staples in the '80s. Discussions are said to be preliminary, and no offer is expected before late this year "at the earliest." Primack notes Staples' strong cash flow and low valuation could make it an attractive P-E target, but its $8.1B market cap complicates matters. | Comment!
Jun. 20, 2011, 1:51 PM
Jun. 3, 2011, 11:53 AMStaples (SPLS -3.5%) chief Ron Sargent plays matchmaker - saying consolidation in the struggling office-supply sector means the big three will have to become two, and Office Depot (ODP) and OfficeMax (OMX) are a "natural pairing." He thinks that's more likely to be approved than Staples buying either; or is Staples itself a target? | Comment!
May. 23, 2011, 5:25 PM
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Staples Inc operates as an office products company that sells and delivers office products and services. The Company provides products, services and expertise in the categories of office supplies, technology, furniture, Copy & Print & among ohers.
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