Jeffrey Smith News
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Office Depot Inc. shareholder Starboard Value LP, which has pressured the retailer to improve operations, nominated six people to the chain’s board as it works to complete its merger with OfficeMax Inc.
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Honda Motor Co., the first Japanese automaker to build cars in the U.S., is consolidating corporate operations for North America in Ohio and setting up a regional support services unit there to boost efficiency.
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Office Depot Inc. agreed to buy OfficeMax Inc. for $1.17 billion in a bid to revive a retailer that’s been losing sales to online rivals and Staples Inc., the largest U.S. office-supplies chain. The shares of both companies fell, with Office Depot dropping the most since April 2010.
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Office Depot Inc. and OfficeMax Inc. are discussing a merger with a deal possible this week, said a person familiar with the matter. The shares surged.
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Warburg Pincus LLC is interviewing banks for an initial public offering of Bausch & Lomb Inc. after an effort to sell the eye-care company resulted in disappointing bids, said people with knowledge of the matter.
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Institutional Shareholder Services Inc. recommended that AOL Inc. shareholders vote for six directors selected by the Internet company, as well as two nominated by investor Starboard Value LP.
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Warburg Pincus LLC, the private- equity firm that owns Neiman Marcus and Interactive Data Corp., handed back $6.1 billion to clients last year as a stock-market rally drove sales of company shares, according to a person familiar with the matter.
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Merging Office Depot Inc. with OfficeMax Inc. would help reverse the U.S. retail industry’s worst valuations.
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Office Depot Inc. approved an anti- takeover defense about six weeks after activist investor Starboard Value LP became its largest shareholder and started pushing for changes.
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Office Depot Inc., the second- largest U.S. office-supplies chain, rose after activist investor Starboard Value LP became its largest shareholder and started pushing for changes to improve earnings.
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