The ODP Corporation, which owns office supply retailers Office Depot and OfficeMax, agreed to be taken private by an affiliate of Atlas Holdings for approximately $1 billion, the companies said on Monday. Investment firm Atlas will pay $28 per share to buy ODP, which also owns ODP Business Solutions, representing a 34 percent premium to the company’s closing share price on Sept. 19. ODP, which is headquartered in Boca Raton, Florida, had been exploring a sale with investment bank JPMorgan, sources said. Its board approved the transaction, which is expected to close by the end of the year after receiving approval from regulators and ODP shareholders.
Total Retail’s Take: ODP Corporation being taken private with the…..