The ODP Corp

Office Depot has closed more than 1,000 locations over the past decade and continues to shutter stores across the U.S., reporting 822 locations as of Nov. 5, 2025 and shrinking further since becoming private. The chain’s downsizing reflects a long-term industry decline driven by consumers buying commodity office supplies from Amazon, mass retailers and online channels. Analysts say the sector faces steady revenue drops and that surviving chains must pivot to in-person services and event-focused offerings to remain relevant. » More on finance.yahoo.com

Shareholders of ODP Corp approved the planned takeover by ACR Ocean Resources at a special meeting; 22,540,259 voted in favor and 25,192 against. The merger, originally agreed in September, is expected to close on Dec. 10, 2025; trading in the common stock is likely to be suspended before closing and the shares will be delisted afterward. The Hart-Scott-Rodino Act waiting period has expired, but shareholder lawsuits have been filed alleging the proxy materials were incomplete and challenging the transaction. ODP also reported Q3 results with adjusted earnings of $1.14 per share (expected $0.90), while revenue of $1.6 billion missed estimates and declined year over year. » More on de.investing.com

ODP filed supplemental disclosures with the SEC about the planned merger with ACR Ocean Resources after shareholder lawsuits were filed in a New York court. The suits allege incomplete and misleading proxy materials; ODP rejects the allegations but provided the information to avoid legal uncertainty and plans to hold a vote on the merger on Dec. 5. The filings include additional background details and J.P. Morgan’s financial analysis, which shows an implied equity value per share of $23.25 to $29.75 and contextualizes the proposed consideration of $28.00. The Hart-Scott-Rodino waiting period also expired; ODP reported adjusted EPS of $1.14 in Q3 (above expectations), while revenue of $1.6bn missed estimates. » More on de.investing.com