Office Depot spinoff put on pause

ODP Corp., parent company of Office Depot, has made the decision to delay spinning off the home and office products retailer, after receiving interest in an acquisition. "We look forward to further evaluating the potential sale of ODP's consumer business to determine whether a sale may provide greater value for our shareholders than a public company separation," CEO Gerry Smith said. "If the consumer business is not sold, then ODP's Board of Directors will reevaluate the advisability and timing of the public company separation."