Staples Offers to Buy Office Depot

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By Jordan Valinsky – New York (CNN Business)Staples is once again proposing to buy rival Office Depot in a $2.1 billion deal, five years after the US government squashed their prior merger agreement.

The $40-per-share offer price for Office Depot’s parent company, ODP Corp., is a roughly 60% premium over its average closing price for the last 90 trading days. The all-cash transaction, according to Staples, is a “compelling value proposition” and is a “superior to the intrinsic, standalone value” of Office Depot.

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