A letter from a company executive explained that although they are rejecting the offer, they would be interested in a different kind of deal.
This is the third time that Staples have attempted to purchase rival company Office Depot, with the prior two offers being refused in the past. ODP, parent company of Office Depot did explain that they would be interested in a different kind of deal such as selling its retail and e-commerce operations or entering a joint venture agreement.
This was outlined in a letter from Chairman Joseph Vassalluzzo, which stated that a deal that is not a takeover “could be executed more efficiently and with far greater certainty and less regulatory risk that your proposal. It would also help maintain competitiveness against non-traditional retailers and optimise ongoing choices for consumers.”
