ODP Overview

Buyout Details: Atlas Holding is set to acquire ODP Corporation, with the deal expected to close on December 10, 2023, allowing ODP shareholders to receive $28.00 per share, totaling around $1 billion.

Transition to Private Company: Post-acquisition, ODP will operate as a private entity, focusing on its B2B distribution platform and supply chain infrastructure without the pressures of public market performance.

Historical Context: ODP Corporation originated from Office Depot, founded in 1986, and later merged with OfficeMax in 2013, becoming a leading office-products retailer in North America.

Market Challenges: ODP has been adapting to competition from e-commerce giants like Amazon and mass merchants such as Walmart and Costco, which have expanded their office supply offerings, impacting ODP's traditional retail model.

Investigation of Companies: Halper Sadeh LLC is investigating Denny’s Corporation, Evoke Pharma, and ODP Corporation for potential violations of federal securities laws and breaches of fiduciary duties related to their recent sales.

Details of Sales: Denny’s is being sold for $6.25 per share, Evoke Pharma for $11.00 per share, and ODP Corporation for $28.00 per share, all in cash.

Shareholder Rights: Shareholders of the mentioned companies are encouraged to learn about their rights and options regarding the proposed transactions, with Halper Sadeh LLC offering legal assistance on a contingent fee basis.

Legal Representation: Halper Sadeh LLC represents investors globally who have experienced securities fraud and corporate misconduct, aiming to recover funds and implement corporate reforms.

Earnings Performance: ODP Corp. reported quarterly earnings of $1.14 per share, significantly exceeding the Zacks Consensus Estimate of $0.82, marking a 39.02% earnings surprise. The company has surpassed consensus EPS estimates three times in the last four quarters.

Revenue Insights: The company generated revenues of $1.63 billion for the quarter, falling short of the Zacks Consensus Estimate by 2.66% and down from $1.78 billion a year ago. ODP has also topped revenue estimates three times in the past four quarters.

Stock Outlook: ODP Corp. shares have increased by 22.3% year-to-date, outperforming the S&P 500's 15.1% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market.

Industry Context: The Retail - Miscellaneous industry, to which ODP belongs, ranks in the top 29% of Zacks industries, suggesting a favorable outlook. Meanwhile, Ulta Beauty is expected to report a decline in earnings, with a consensus EPS estimate of $4.47 for its upcoming quarter.

Investigation Announcement: Halper Sadeh LLC is investigating potential violations of federal securities laws and breaches of fiduciary duties related to the sales of BankFinancial Corporation, Vimeo, Inc., and ODP Corporation.

Shareholder Rights: Shareholders of the mentioned companies are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options, as the firm may seek increased consideration or additional disclosures on their behalf.

Contingent Fee Basis: The firm operates on a contingent fee basis, meaning shareholders will not incur out-of-pocket legal fees unless the case is successful.

Legal Support for Investors: Halper Sadeh LLC represents investors globally who have experienced securities fraud and corporate misconduct, aiming to recover funds and implement corporate reforms.

Investigation of Companies: Halper Sadeh LLC is investigating ODP Corporation, Steelcase Inc., and Mesa Air Group, Inc. for potential violations of federal securities laws and breaches of fiduciary duties to shareholders related to their recent transactions.

Shareholder Rights and Legal Options: Shareholders of the involved companies are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options, with the firm offering services on a contingent fee basis, meaning no upfront costs for legal fees.