Office Depot Owner to Be Taken Private for About $1 Billion (1)

ODP Corp., owner of the Office Depot retail chain, is being acquired by private equity firm Atlas Holdings for about $1 billion.

Atlas is paying $28 a share for ODP, according to a statement on Monday. That represents a 34% premium to ODP’s closing price on Friday. The stock surged as much as 34% in New York trading on Monday to $27.81.

Office Depot has been struggling as more sales of business supplies shift online. The company’s revenue has declined for the last two years and the first two quarters of 2025.

(Updates with shares trading.)

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