Owner of Office Depot and OfficeMax turned down incomplete offer from Staples

ODP Corp., the parent company of the Office Depot and OfficeMax chains, said a proposal to purchase some of its assets by Staples has been rejected because the deal lacked essential terms such as a purchase price. The company had previously turned down an offer made in January of more than $2 billion from Staples. The two office supply giants have previously tried to merge in 1996 and 2016 but both deals failed due to pushback from federal regulatory authorities.