<SEC-DOCUMENT>0001193125-15-032920.txt : 20150204
<SEC-HEADER>0001193125-15-032920.hdr.sgml : 20150204
<ACCEPTANCE-DATETIME>20150204103835
ACCESSION NUMBER:		0001193125-15-032920
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20150204
DATE AS OF CHANGE:		20150204
EFFECTIVENESS DATE:		20150204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OFFICE DEPOT INC
		CENTRAL INDEX KEY:			0000800240
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940]
		IRS NUMBER:				592663954
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1229

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10948
		FILM NUMBER:		15573943

	BUSINESS ADDRESS:	
		STREET 1:		6600 NORTH MILITARY TRAIL
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33496
		BUSINESS PHONE:		561-438-8176

	MAIL ADDRESS:	
		STREET 1:		6600 NORTH MILITARY TRAIL
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33496
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d865452ddefa14a.htm
<DESCRIPTION>DEFA14A
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section 14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed by a
party other than the Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Check the appropriate box:
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
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<TD VALIGN="bottom" COLSPAN="3">Preliminary Proxy Statement</TD></TR>
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<TD VALIGN="bottom" COLSPAN="3"><B>Confidential, for Use of the Commission Only&nbsp;(as permitted by Rule 14a-6(e)(2))</B></TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
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<TD VALIGN="bottom" COLSPAN="3">Definitive Proxy Statement</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
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<TD VALIGN="bottom" COLSPAN="3">Definitive Additional Materials</TD></TR>
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<TD VALIGN="bottom" COLSPAN="3">Soliciting Material Under Rule 14a-12</TD></TR>
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<TD VALIGN="bottom" COLSPAN="5" ALIGN="center"><FONT STYLE="font-size:24pt"><B><BR>Office Depot, Inc.</B></FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="5" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter)</B></TD></TR>
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<TD VALIGN="bottom" COLSPAN="5" ALIGN="center"><B>N/A</B></TD></TR>
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<TD VALIGN="bottom" COLSPAN="5" ALIGN="center"><FONT STYLE="font-size:8pt"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</B></FONT></TD></TR>
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<TD VALIGN="bottom" COLSPAN="5">Payment of Filing Fee (Check the appropriate box):</TD></TR>
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<TD VALIGN="bottom"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></TD>
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<TD VALIGN="top" COLSPAN="3">No fee required.</TD></TR>
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<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
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<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title of each class of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
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<TD VALIGN="top">(2)</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Aggregate number of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top">(4)</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proposed maximum aggregate value of transaction:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top">(5)</TD>
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<TD VALIGN="bottom">Total fee paid:</TD></TR>
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<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
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<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
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<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing:</TD></TR>
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<TD VALIGN="top">(1)</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amount previously paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form, Schedule or Registration Statement No.:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filing party:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:1pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date Filed:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"><B>Staples Media Contact:</B></TD>
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<TD VALIGN="bottom">Kirk Saville</TD></TR>
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<TD VALIGN="bottom">508-253-8530</TD></TR>
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<TD VALIGN="bottom"><B>Staples Investor Contact:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Chris Powers</TD></TR>
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<TD VALIGN="bottom"><B>Office Depot Media Contact:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Karen&nbsp;Denning</TD></TR>
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<TD VALIGN="bottom">630-864-6050</TD></TR>
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<TD VALIGN="bottom"><B>Office Depot Investor Contact:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Mike Steele</TD></TR>
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<TD VALIGN="bottom">561-438-3657</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Staples, Inc. Announces Acquisition of Office Depot, Inc. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Combined Company Better Positioned to Serve the Changing Needs of Customers and Compete Against a Large and Diverse Set of Competitors
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Strategic Combination Expected to Deliver at Least $1 Billion of Annualized Synergies by Third Full Fiscal Year Post-Closing
</I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Cost Savings and Operational Efficiencies to Dramatically Accelerate Staples&#146; Strategy of Driving Growth in Delivery
Businesses and Categories Beyond Office Supplies </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Provides Ability to Optimize Retail Footprint </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Generates Significant Value for Shareholders; Accretive to EPS in First Year
Post-Closing<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FRAMINGHAM, Mass. and BOCA RATON, Fla., February&nbsp;4, 2015</B> &#150;
Staples, Inc. (Nasdaq: SPLS) and Office Depot, Inc. (Nasdaq: ODP) today announced that the companies have entered into a definitive agreement under which Staples will acquire all of the outstanding shares of Office Depot. Under the terms of the
agreement, Office Depot shareholders will receive, for each Office Depot share, $7.25 in cash and 0.2188 of a share in Staples stock at closing. Based on Staples closing share price on February&nbsp;2, 2015, the last trading day prior to initial
media speculation around a possible transaction, the transaction values Office Depot at $11.00 per share. This represents a premium of 44 percent over the closing price of Office Depot shares as of February&nbsp;2, 2015, and a premium of 65 percent
over the 90-day average closing price of Office Depot shares as of February&nbsp;2, 2015. The transaction values Office Depot at an equity value of $6.3 billion. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staples began discussions to acquire Office Depot in September 2014. The agreement has been unanimously approved
by each company&#146;s Board of Directors. With the acquisition of Office Depot, Staples will have pro forma annual sales of approximately $39 billion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;This is a transformational acquisition which enables Staples to provide more value to customers, and more effectively compete in a rapidly evolving
competitive environment,&#148; said Ron Sargent, Staples&#146; chairman and chief executive officer. &#147;We expect to recognize at least $1 billion of synergies as we aggressively reduce global expenses and optimize our retail footprint. These
savings will dramatically accelerate our strategic reinvention which is focused on driving growth in our delivery businesses and in categories beyond office supplies.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;This transaction delivers great value for our shareholders and creates a company ideally positioned to serve our customers and grow over the long
term,&#148; said Roland Smith, chairman and chief executive officer for Office Depot, Inc. &#147;It is also an endorsement of our many accomplishments and the tremendous success we&#146;ve had integrating Office Depot and OfficeMax over the past
year. We look forward to bringing our experience and knowledge to the new organization.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staples expects to generate at least $1 billion of
annualized cost synergies by the third full fiscal year post-closing. The majority of these synergies would be realized through headcount and general and administrative expense reductions, efficiencies in purchasing, marketing, and supply chain,
retail store network optimization, as well as sharing of best practices. Staples estimates one-time costs of approximately $1 billion to achieve its synergy target. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following the closing of the transaction, Staples&#146; newly constituted Board of Directors will increase in size from 11 members to 13 members and include
two Office Depot directors approved by Staples. Staples corporate headquarters will remain in Framingham, Mass. and Sargent will continue to serve as Staples&#146; Chairman and Chief Executive Officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the acquisition, Staples has obtained financing commitments from Barclays and BofA Merrill Lynch for a $3 billion ABL credit facility, and
a $2.75 billion 6-year term loan. The closing of the transaction is not subject to financing conditions. Staples is committed to maintaining its current quarterly dividend of $0.12 per share and has temporarily suspended its share buyback
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program to focus on paying down transaction related debt. Staples is committed to a prudent capital structure that maximizes financial flexibility and supports a balanced and diverse cash
deployment strategy, including the resumption of share buybacks over the longer term. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transaction is subject to customary closing conditions,
including antitrust regulatory approval and Office Depot shareholder approval, and is expected to close by the end of calendar year 2015. Staples will remain focused on its strategic reinvention plan, and Office Depot will remain focused on its
integration of OfficeMax during this period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barclays is acting as exclusive financial advisor to Staples. Wilmer Cutler Pickering Hale and Dorr LLP and
Weil, Gotshal&nbsp;&amp; Manges LLP are acting as legal advisors to Staples. Peter J. Solomon Company is acting as exclusive financial advisor to Office Depot. Simpson Thacher&nbsp;&amp; Bartlett LLP is acting as legal advisor to Office Depot. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Conference Call and Webcast Information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The management
teams of Staples and Office Depot will hold a joint conference call and simultaneous webcast today, February&nbsp;4, 2015 at 8:00 a.m. (ET) to discuss the transaction. Participants will include Ron Sargent, Staples&#146; Chairman and Chief Executive
Officer, Christine Komola, Staples&#146; EVP and Chief Financial Officer, and Roland Smith, Office Depot&#146;s Chairman and Chief Executive Officer. To access the conference call, dial 617-399-5130. The passcode is 62894773. To access the webcast,
visit the Investor Relations section of Staples&#146; website at http://investor.staples.com. A replay of the webcast will be available online at http://investor.staples.com. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Additional Information will be Filed with the SEC </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staples plans to file with the SEC a Registration Statement on Form S-4 in connection with the transaction and Office Depot plans to file with the SEC and mail
to its stockholders a Proxy Statement/Prospectus in connection with the transaction. The Registration Statement and the Proxy Statement/Prospectus will contain important information about Staples, Office Depot, the transaction and related matters.
Investors and security holders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully when they are available. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and security holders will be able to obtain free copies of the Registration Statement and the Proxy
Statement/Prospectus and other documents filed with the SEC by Staples and Office Depot through the website maintained by the SEC at <U>www.sec.gov</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, investors and security holders will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus from Staples
by contacting Staples&#146; Investor Relations Department at 800-468-7751, or from Office Depot by contacting Office Depot&#146;s Investor Relations Department at 561-438-7878. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staples and Office Depot, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies in respect of
the transactions contemplated by the Merger Agreement. Information regarding the Staples&#146; directors and executive officers is contained in Staples&#146; proxy statement dated April&nbsp;11, 2014, which is filed with the SEC. Information
regarding Office Depot&#146;s directors and executive officers is contained in Office Depot&#146;s proxy statement dated March&nbsp;24, 2014, which is filed with the SEC. To the extent holdings of securities by such directors or executive officers
have changed since the amounts printed in the 2014 proxy statements, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. More detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement/Prospectus to be filed by Office Depot in connection with the transaction. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Safe Harbor for Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statements in
this press release regarding the proposed transaction between Staples and Office Depot, the expected timetable for completing the transaction, future financial and operating results, benefits and synergies of the transaction, future opportunities
for the combined company, and any other statements about Staples&#146; or Office Depot&#146;s managements&#146; future expectations, beliefs, goals, plans or prospects constitute forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing &#147;believes,&#148; &#147;anticipates,&#148; &#147;plans,&#148; &#147;expects,&#148; &#147;may,&#148;
&#147;will,&#148; &#147;would,&#148; &#147;intends,&#148; &#147;estimates&#148; and similar expressions) should also be considered to be forward looking statements. There are a number of important factors that could cause actual results or events to
differ materially from those indicated by such forward looking statements, including: the ability to </P>

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consummate the transaction; the risk that Office Depot&#146;s stockholders do not approve the merger; the risk that regulatory approvals required for the merger are not obtained or are obtained
subject to conditions that are not anticipated; the risk that the financing required to fund the transaction is not obtained; the risk that the other conditions to the closing of the merger are not satisfied; potential adverse reactions or changes
to business or employee relationships, including those resulting from the announcement or completion of the merger; uncertainties as to the timing of the merger; competitive responses to the proposed merger; response by activist shareholders to the
merger; uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; the ability to successfully integrate Staples&#146; and Office Depot&#146;s operations and employees; the ability to
realize anticipated synergies and cost savings; unexpected costs, charges or expenses resulting from the merger; litigation relating to the merger; the outcome of pending or potential litigation or governmental investigations; the inability to
retain key personnel; any changes in general economic and/or industry specific conditions; and the other factors described in Staples&#146; Annual Report on Form 10-K for the year ended February&nbsp;1, 2014 and Office Depot&#146;s Annual Report on
Form 10-K for the year ended December&nbsp;28, 2013 and their most recent Quarterly Reports on Form 10-Q each filed with the SEC. Staples and Office Depot disclaim any intention or obligation to update any forward looking statements as a result of
developments occurring after the date of this press release. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Staples </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staples makes it easy to make more happen with more products and more ways to shop. Through its world-class retail, online and delivery capabilities, Staples
lets customers shop however and whenever they want, whether it&#146;s in-store, online or on mobile devices. Staples offers more products than ever, such as technology, facilities and breakroom supplies, furniture, safety supplies, medical supplies,
and Copy and Print services. Headquartered outside of Boston, Staples operates throughout North and South America, Europe, Asia, Australia and New Zealand. More information about Staples (SPLS) is available at www.staples.com. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Office Depot </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Formed by the merger of&nbsp;Office
Depot&nbsp;and OfficeMax, Office Depot, Inc.&nbsp;is a leading global provider of products, services, and solutions&nbsp;for every workplace &#150; whether your workplace is an office, home, school, or car. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office Depot, Inc.&nbsp;is a resource and a catalyst to help customers work better. We are a single source for
everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The company has combined pro forma annual sales of approximately&nbsp;$17 billion, employs more than 58,000 associates, and serves consumers and businesses in
57 countries with more than 2,000 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization &#150; all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees
and alliance partners. The company operates under several banner brands including&nbsp;Office Depot, OfficeMax, OfficeMax Grand&nbsp;&amp; Toy, Reliable and Viking. The company&#146;s portfolio of exclusive product brands include TUL, Foray, DiVOGA,
Ativa, WorkPRO, Realspace and HighMark. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office Depot, Inc.&#146;s common stock is listed on the NASDAQ Global Select Market under the symbol ODP.
Additional press information can be found at:&nbsp;http://news.officedepot.com. </P>
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