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Stock Market & Financial Investment News

News Breaks
April 23, 2014
05:55 EDTODP, LAMRStocks with implied volatility movement; LAMR ODP
Stocks with implied volatility movement; Lamar Advertising (LAMR) 36, Office Depot (ODP) 49 according to iVolatility.
News For LAMR;ODP From The Last 14 Days
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January 22, 2015
14:11 EDTLAMRLamar Advertising announces partnership with Blue Bite
Lamar Advertising announces a new partnership with Blue Bite, which will give advertisers the ability to create measurable mobile campaigns through the use of outdoor media. The partnership will include the integration of Blue Bite's mTAG platform on Lamar's street level media. First being deployed to 440 transit locations throughout the Buffalo, NY area, both companies are working to expand the network footprint to a potential 25,000 mobile touchpoints across the U.S. and Canada.
January 20, 2015
13:09 EDTODPSources: Staples to spurn Starboard's call to merge with Office Depot, FT says
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10:47 EDTODPStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTODPStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:31 EDTODPActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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08:59 EDTODPStarboard urged Staples to explore Office Depot merger, Bloomberg says
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