ODP is absolutely useless and it costs me money. I had to recoup those losses by playing Ultimate Stock Alerts (find them in Google)
There were many DM's who left in my area a couple years ago, and some of them went to work for Mary Lawley at Tractor Supply Co lol. Idk if you remember her, but she was RVP basically of the east coast. My then DM told me she was fired for filing personal items in her extensity account. Actually that DM now works for her again lol. Cheryl Crocker was an amazing RVP and could know more about almost every aspect of your store in 10 min looking at your P&L than even you could looking at it regularly. They lost a very brilliant RVP when she quit. The writing was on the wall for all of them, even just a couple years back.
Many markets are over saturated with Staples and OD stores, there will be some consolidation for certain, and warehouse consolidation will save them a ton. I no longer live in the market I worked, I'm just glad I'm out of that mess and working for a company that isn't just looking out for people in corporate.
Management stated that the acquisition is on track. Management would not come out with positive news if there was a lot of concerned about the FTC at this point. When this deal closes both ODP and Staples will shoot up. Keep your fingers cross.
Everyone is still upbeat about the FTC in the US. My guess is that they will receive approval sometime mid-September.
I share your frustration. Approval by the Feds makes or breaks this deal. ODP and SPLS being in a mature (some would say declining) industry worsens the fear of deal failure. Holding here but none too happy..GL Longs
Another approval today and no one cares, more negative propaganda out of the American Business Journal, which is irrelevant in the investment world yet idiots pay attention to the garbage, again makes no sense.
Why did I even touch ODP? If it wasn?t for the guys at Ultimate Stock Alerts (find them in Google search) I would have lost more money
Let's keep out fingers crossed that the deal is approved. Some of the reason that the ODP stock is going down because Staples is currently at 14. Based on the price today ODP would be worth $10.30 if approved today. That being said if the deal is approved hopefully the Staples price would go up making the ODP worth more. Remember the deal is for 7.25 in cash plus .2188 shares of Staples. Good luck to those that have the guts to stay on this roller coaster.
So let me get this straight....both boards have approved it, shareholders have approved it, Staples has financing in hand, and already have approvals from China and New Zealand and the earnings release said exactly what it needed to and yet we have a 40% spread, I've been doing arbs for almost seven years and never seen anything like it! You have as many supportive articles out there as negative ones yet there's a 40% spread.....oh wait you have bs articles like the one that said both stock are going to plummet before it gets approved...hmmm...haven't both already gone down...anyway just needed to vent...all bs anyway
Things are not looking good folks. The funds most be so concerned about the FTC approval that they are dumping shares and driving down the price. Management need to do something to stop the bleeding.
Great article from June 25th.
I am still confident that this will be approved in the next 2 months.
Sentiment: Strong Buy
I worked for the company for 9 years in the supply chain and it has gotten worse and worse every year. It's a pure #$%$ hole of a company. Low level managers sit in an air conditioned office watching a flat screen TV that's mounted on the wall, while the workers are out on the warehouse floor in 20-105 degree temperatures for #$%$ty pay. That's the corporate and management culture of Office Depot. The only thing that keeps the company limping along is the hourly workers. If this merger deal is approved by the FTC, I feel sorry for the shareholders of Staples. Office Depot's toxic corporate and management structure will most surely drag Staples to the bottom like the Titanic. Mark my words, this will not help Staples in any way, shape, or form. The only people that this merger will help are the crooks at the top of Office Depot's #$%$ pile.
Sentiment: Strong Sell
The economically disadvantaged families will have lots of options at the mass market. Drug stores, supermarkets, warehouse clubs etc at very competitive prices.
Large corporations on the other hand will see prices rise.
I still think the deal should be approved.
Office Depot certainly has not lowered prices since the merger with Max. They simply brag on the conference calls how they got lower costs and increased margins to the bottom line. With no competition everyone will pay more and economically disadvantaged families who dont have a credit card to shop online will get hurt the worst because they have to go to brick and mortar
So if the deal is approved then the choices would likely be either Staples or Walmart right? I can just see a purchasing agent for a large company pushing a four wheel platform dolly through the aisles of Walmart. If this deal goes through look for a 5 to 8% jump in pricing.