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Investing.com -- ODP Corp (NASDAQ:ODP) stock surged 33% in premarket trading Monday after the office supplies retailer announced it has agreed to be acquired by an affiliate of Atlas Holdings in an all-cash transaction valued at approximately $1 billion.
The deal, which has been unanimously approved by ODP’s board of directors, will see Atlas pay $28 per share in cash for the company. This represents a 34% premium to ODP’s closing price on September 19, 2025.
Upon completion of the transaction, which is expected by the end of 2025, ODP will become a privately held company and its shares will no longer be listed on the NASDAQ stock exchange. The deal remains subject to customary closing conditions, including regulatory approvals and ODP shareholder approval.
"This transaction, fully supported by our Board, provides a substantial premium for The ODP Corporation’s shareholders and will improve the company’s position for the next phase of growth," said Gerry P. Smith, Chief Executive Officer of ODP.
Atlas Holdings, which owns and operates a global family of manufacturing and distribution businesses, aims to leverage its industry knowledge and operational expertise to support ODP’s B2B growth initiatives.
"Atlas has a long history of transitioning public companies into successful private enterprises and we are uniquely positioned to do just that with The ODP Corporation – an iconic American company," said Atlas Managing Partner Michael Sher.
J.P. Morgan Securities is serving as exclusive financial advisor to ODP, while Lazard is advising Atlas Holdings on the transaction.
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