After the failed merger with its competitor Staples, American Office Depot is considering the sale of a part of its European activities after it had already restructured its European division in 2015.
Keep shareholders satisfied
When it was negotiating with Staples, Office Depot had already indicated it wanted to sell large parts of its European activities in order to get the merger approved with the European Competition Authority, but it was in fact the American Bureau of Competition that blocked the merger earlier this month. Almost immediately afterwards, both companies decided to call off the merger altogether.
Office Depot says it is now looking for new ways to keep its shareholders satisfied and a sale of several activities is one of those options. It also wants to close 400 stores (and maybe many more) this year. However, it will hold off any decision until it has completely analyzed the company.
