According to a new 13D filing, Jeffrey C. Smith’s Starboard Value owns 25.05 million shares of Office Depot Inc. (NASDAQ:ODP), down from 30.22 million shares held in the middle of December, after the fund had slashed its stake by nearly 15.00 million shares. Starboard has now sold out of its long position in Office Depot, with the remaining 25.00 million shares underlying call options. Mr. Smith also owns 45,836 shares, which were granted to him by the issuer for his role as a Director of the company. Office Depot’s planned merger with Staples Inc. (NASDAQ:SPLS) is facing a preliminary injunction challenge from the FTC, which will be heard by U.S. District Court Judge Emmet G. Sullivan beginning later this month. The FTC contends that the merger would eliminate competition in the bulk office supplies space.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| STARBOARD VALUE | 25,000,000 | 25,000,000 | 25,000,000 | 25,000,000 | 25,000,000 | 4.6% |
| STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD | 19,225,000 | 25,000,000 | 19,225,000 | 25,000,000 | 19,225,000 | 3.5% |
| STARBOARD VALUE AND OPPORTUNITY S | 2,175,000 | 25,000,000 | 2,175,000 | 25,000,000 | 2,175,000 | Less than 1% |
| STARBOARD VALUE AND OPPORTUNITY C | 1,225,000 | 1,225,000 | 1,225,000 | Less than 1% | ||
| STARBOARD VALUE R | 1,225,000 | 1,225,000 | 1,225,000 | Less than 1% | ||
| STARBOARD VALUE R GP | 1,225,000 | 1,225,000 | 1,225,000 | Less than 1% | ||
| STARBOARD VALUE GP | 25,000,000 | 25,000,000 | 25,000,000 | 4.6% | ||
| STARBOARD PRINCIPAL CO | 25,000,000 | 25,000,000 | 25,000,000 | 4.6% | ||
| STARBOARD PRINCIPAL CO GP | 25,000,000 | 25,000,000 | 25,000,000 | 4.6% | ||
| JEFFREY C. SMITH | 45,836 | 45,836 | 25,045,836 | 4.6% | ||
| MARK R. MITCHELL | 1,250 | 1,250 | 25,000,000 | 4.6% | ||
| PETER A. FELD | 25,000,000 | 4.6% | ||||
| T-S CAPITAL PARTNERS | 1,250 | 0% | ||||
| DAVID SIEGEL | Less than 1% | |||||
| ROBERT TELLES | 0% |
Page 1 of 24 SEC Filing
(Name, Address and Telephone Number of Person
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