ODP Corporation Concludes Acquisition and Goes Private

The ODP Corporation has completed its transition to a privately held entity following the finalization of its acquisition by an Atlas Holdings subsidiary. The deal, valued at approximately $1 billion, was closed on Wednesday, December 10. Consequently, ODP's common stock has been suspended from trading and delisted from the NASDAQ Global Select Market, effectively retiring the "ODP" ticker symbol.

Shareholders are set to receive a cash payment of $28.00 per share. This distribution will be handled by their respective custodian banks and is typically processed within three to five business days following the transaction's completion.

The acquisition, which carries an enterprise value of around $1 billion, notably exceeded earlier market estimates that had pegged the company's worth at approximately $842 million. The $28.00 per-share price represents a premium of roughly 34% over ODP's closing share price on September 19, 2025—the last trading day before the deal's announcement.

Shareholders formally approved the transaction during a special meeting held on December 5, 2025. In a concurrent leadership change, Craig Gunckel has succeeded Gerry P. Smith as Chief Executive Officer. Gunckel brings extensive experience from the paper and packaging industry to his new role.

Should investors sell immediately? Or is it worth buying ODP?

Strategic Review Concludes with New Private Ownership

This move concludes the strategic review process previously undertaken by ODP. Under its new private ownership by Atlas Holdings, the company's various business units are expected to be reorganized into more focused, standalone entities. The strategic plan involves targeted optimization of both its retail and business-to-business (B2B) operations.

Industry observers anticipate that Atlas will likely move quickly to streamline operational costs, evaluate the retail store network, and invest in supply chain infrastructure. Such strategic shifts are often considered easier to implement outside of public markets, as the company will no longer be subject to quarterly reporting requirements.

The acquisition also triggers previously approved compensation arrangements for departing executives, which were sanctioned during the shareholder meeting. For former shareholders, their financial interest concludes with the $28.00 per share payout. For ODP Corporation, a new integration phase now begins under Atlas's stewardship, with planned initiatives slated to commence as early as the first quarter of 2026.