Morningstar analyst Joscelyn Mackay said in a Wednesday note that the agreement just increases her conviction that potential buyers may be circling the retailer, which is struggling to keep pace with rivals like OfficeMax and market leader Staples. At the top of the list is BC Partners, the private equity firm that made a $350 million preferred stock investment in Office Depot in June 2009." (see link below)
If executives of ODP are going to benefit from the acquisition of ODP, they should be expected to be for it.
A large retailer like TARGET should ACQUIRE ODP on the cheap (for $2.3 Billion or $8.50/share).
It would probably be the best acquisition Target has ever made.
Since TGT's annual net income is $2.8 Billion, it certainly can afford a ptice of $2.3 Billion for a large office-supply retailer of the size of ODP with 1152 stores in North America and additional stores in 49 other countries. That's LESS THAN $2 million per North American store (!!).