ODP Agrees to Atlas Holdings Buyout at $28 Per Share, Taking Company Private
Shareholders to Receive 34% Premium as ODP Moves Private in $1 Billion Deal
The ODP Corporation has entered into a definitive agreement to be acquired by Atlas Holdings, offering shareholders $28 per share in an all-cash transaction that values the company at approximately $1 billion. This price represents a 34% premium over the September 19, 2025, closing price, signaling a significant value realization for investors. The move will take ODP private and remove its common stock from the NASDAQ exchange upon completion.
Transaction Details Highlight Shareholder Value
Atlas Holdings’ bid comes at a time when ODP's share price had recently traded at $27.78, already reflecting much of the buyout premium. Shareholders will receive $28 per share, ensuring minimal gap between the deal price and the current market price, underscoring strong market confidence in the deal’s successful closing.
| Detail | Value |
|---|---|
| Acquirer | Atlas Holdings |
| ODP Current Share Price | $27.78 |
| Offer Price Per Share | $28.00 |
| Deal Premium to Sept. 19, 2025 Close | 34% |
| Transaction Value | $1 Billion |
| Status | Definitive Agreement Signed |
| Expected Closing | End of 2025 (pending approvals) |
ODP Leadership Sees Deal as Path to Growth
ODP’s CEO, Gerry P. Smith, described the deal as a catalyst for B2B growth, leveraging Atlas Holdings’ experience in guiding companies through transitions from public to private ownership. The leadership believes Atlas’ operational expertise will drive continued momentum for ODP, particularly in the face of a challenging retail environment and a rapidly evolving office supplies market.
Investor Implications: Risk and Reward
For investors, the acquisition offers a rare near-term arbitrage opportunity with a modest remaining spread between ODP’s market price and the buyout price. However, the transaction’s successful completion still hinges on regulatory and shareholder approvals, and there are customary risks such as possible litigation, competitive responses, and regulatory review delays. If the transaction closes as expected by year-end 2025, existing ODP shareholders stand to receive immediate liquidity at a substantial premium versus historical levels.
Takeaway: A Transformative Moment for ODP Shareholders
The Atlas Holdings buyout of ODP stands out as a major event in the business supplies sector, combining near-certain shareholder value realization with the intrigue of a transition to private ownership. Investors watching this space may want to keep tabs on regulatory filings and any emerging developments around closing conditions, as the path forward for ODP will be shaped by the outcomes of these key milestones.
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