ODP Corporation to be acquired by Atlas Holdings for $28 per share in cash

ODP Corporation (ODP) announced that it has entered into a definitive agreement to be acquired by an affiliate of Atlas Holdings for $28 per share in cash. The purchase price represents a premium of 34% to The ODP Corporation’s closing share price on September 19, valuing ODP Corporation at approximately $1B. Upon completion of the transaction, ODP Corporation will become a privately held company, and shares of common stock will no longer be listed on the Nasdaq stock exchange. The board of directors of ODP Corporation unanimously approved the transaction, which is expected to be completed by the end of 2025. The transaction is subject to customary closing conditions, including regulatory approvals and approval by ODP Corporation shareholders.