In December they held approximately 6% stake in Staples. The news today in their letter to Staples says the have 4.5%. I knew they dumped in the pump on February 4th, 2015.
Big business wont order skids of paper from amazon or walmart and if they would it would come by 3rd party and not delivered to many locations within the business just left on the dock for sally to deal with.
You are correct just remember 240 million split 6 ways to vote yes no matter what even if not allowed. So they will be so happy reporting good or bad news enough money for them to retire buy a island eat lobster everyday life is great for them the other 40,000 workers out of work not to happy.
The same with me. I made plenty off of this stock, but I didn't think Staples would be so stupid as to do a merger. If Starboard were not bullying them, I do not think it would have happened for at least another five years, if at all. I can't understand how these huge companies let one shareholder bully them so much when they KNOW all that holder wants to do is get it high enough to dump. If I were a holder of Staples, I would vote a resounding "NO".
I agree that the deal will be approved but I do not believe it should be allowed. Office supplies is still a big category for large enterprise customers and with this merger corporate America will have only one place to go to buy basic office supplies. There will be no one left to compete with Staples. The next largest player is WB Mason and they are a regional player. Amazon is not set up for enterprise customers. There will be no competition and should not be allowed.
Staples will right Office Depots ship. I too sold to early because I never thought the merger with Staples would be allowed but I was wrong. I bought Office Depot when they hit rock bottom and made very good money so I have no complaints but I definitely believe this merger will happen and that the new company will grow.
Nothing has changed with this company. They make their earnings calls seem so upbeat, yet they can't hide the fact that their bottom line is STILL RED. WOW!!! They beat expectations, they earned this or that...BUT IT IS STILL RED on the bottom line.
If Staples does NOT end up buying this company, it will eventually go the way of the dinosaur. If Staples DOES end up buying O.D., then Staples will be doomed as well.
The only thing that O.D. does well is hemorrhage money.
This stock is already up 1000% from its sub $1.00 level. What you are reading is old news. Staples deal values ODP at $10.91. There is no reason to believe that this stock will go beyond that number anytime soon. So let's pray for $10.91 and sell then and not have to wait for potential merger.
At store level, absolutely nothing is getting done because everyone is too worried about their jobs. My DM just stays on his phone all day gossiping about which DM just got fired... (Hint: DH in Milwaukee). Until the Staples deal gets approved or denied, we are just zombies in the stores. When OD "bought" OMAX last year, mostly the OMAX managers and DM's were laid off. Now if the Staples buyout gets approved, mostly the OD managers and DM's will be laid off. It doesn't take a rocket scientist to figure that out. So until the buyout is finalized, don't expect anything to energize OD's stock price as we are basically just waiting... On the upside, renaming the chain to Staples would have the benefit of getting rid of all of the overcharging lawsuit stigmas that OD has. ($43 million paid out last November with $25 million going to Sherwin's estate).
Sentiment: Strong Sell
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