Simpson Thacher is advising The ODP Corporation (“ODP”) in connection with its announced acquisition by an affiliate of Atlas Holdings (“Atlas”) for $28.00 per share in cash, in a transaction valued at approximately $1 billion. The transaction is expected to close by the end of 2025, subject to customary closing conditions, including approval of ODP shareholders and receipt of regulatory approvals.
ODP provides products, services and technology solutions through an integrated B2B distribution platform and omnichannel presence, which includes supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores.
Atlas and its affiliates own and operate 29 companies in sectors such as automotive supply, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products.
The Simpson Thacher team includes Alan Klein, Jakob Rendtorff, Beth DiSciullo, Luca Tomasi, Tania Houwayek, Michael Thornhill-Recio and Ella Yumeng Zhang (M&A); Jamin Koslowe, Jana Hymowitz, Courtney Thomson and Taylor Todd (ECEB); Karen Kelley and John Strubing (Public Company Advisory); Caroline Geiger, Sara Liu and Christian Bond (IP); Peter Guryan, Preston Miller and Josh Hazan (Antitrust); Russell Light, Andrew Wasilick and Nico Andrews (Tax); Eli Isak and Aaron Gurley (Credit); Richard Fenyes (Capital Markets); Krista McManus (Real Estate); Steve DeLott (Insurance).