OFFICE DEPOT INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Office Depot, Inc.
NEW ORLEANS, Feb. 5, 2015 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of Office Depot, Inc. ("Office Depot" or the "Company") (NASDAQ: ODP) to Staples, Inc. (NASDAQ: SPLS). Under the terms of the proposed transaction, shareholders of Office Depot will receive only $7.25 in cash and 0.2188 shares of Staples stock for each share of Office Depot common stock that they own. Based on Staples closing share price on February 2, 2015, the last trading day prior to initial media speculation around a possible transaction, the transaction values Office Depot at $11.00 per share. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) or partner Michael J. Palestina ([email protected]) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC
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