4 Merger and Acquisitions Stock Stories Ready for Midweek Appraisal
Office Depot Inc. (NYSE:ODP): Current price $4.10
On Wednesday, Office Depot said that it will permit three executives nominated by its biggest shareholder Starboard Value LP to sit on its board of directors, averting a proxy solicitation by the activist investor hedge fund. Starboard Value has a 14.6-percent position in Office Depot and had at first nominated six members to the board, blaming a lack of experience among the current members.
However, just hours prior to its annual shareholders meeting, Office Depot released a statement saying that it had reached a resolution with Starboard as to the structure of the board.
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