Office Depot seeks Staples vote June 19

Boca Raton, Fla. – Office Depot is seeking a shareholder vote on its proposed $6.3 billion merger with Staples Inc. at its annual meeting on June 19. According to a statement filed with the Securities and Exchange Commission (SEC), Office Depot is requesting that shareholders approve the proposed acquisition by Staples.



In addition to approval by Office Depot shareholders, the agreement also needs to be approved by the Federal Trade Commission (FTC). With all approvals in place, the deal would finalize by the end of 2015.



Some shareholders do not believe Office Depot executives negotiated the best deal, and are filing lawsuits against the company. According to a report Office Depot filed March 20 with the SEC, nine lawsuits claiming that Office Depot executives violated their fiduciary duties have been filed in Delaware; two lawsuits were filed in the Fifteenth Circuit Court of the State of Florida.