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Kekst CNC is advising Office Depot as it rejects a $2.1B unsolicited offer from Staples’ owner Sycamore Partners and proposes an alternative plan to merge the companies’ retail and consumer-facing e-commerce businesses “under the right set of circumstances and on mutually acceptable terms.”
Boca Raton-based ODP is in the process of selling its CompCom IT services and is building a B2B growth strategy, according to chairman Joseph Vassalluzzo’s letter to Sycamore managing director Stefan Kaluzny.
He believes his retail chain merger plan could be executed more efficiently and with less regulatory risk.
Vassalluzzo said ODP is not willing to engage in a long-drawn-out process and expensive regulatory review with no guarantee of success unless Staples is willing to “bear this risk through a customary ‘hell or high water’ provision.”
Jeremy Fielding and Ruth Pachman of Kekst CNC handle ODP.
Joele Frank, Wilkinson, Brimmer Katcher represents Sycamore.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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