Item 8.01. Other Events.
In May 2021, The ODP Corporation (the "Company") announced that its Board of
Directors unanimously approved a plan to separate the Company into two
independent, publicly-traded companies by means of a tax-free spin-off to the
Company's shareholders. In November 2021, USR Parent, Inc., the parent company
of Staples and a portfolio company of Sycamore Partners, reaffirmed its
non-binding proposal to acquire the Company's consumer business for $1 billion
in cash. On January 14, 2022, the Company issued a press release announcing that
its Board of Directors received in December 2021 a non-binding proposal from
another third party to acquire the Company's consumer business, and that the
Company's Board of Directors determined to delay the previously announced public
company separation to evaluate a potential sale of the Company's consumer
business. A copy of the press release is attached as Exhibit 99.1 to this
Current Report on 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit 99.1 Press release of The ODP Corporation, dated January 14, 2022.
Exhibit 104 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document.
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