ODP rejects Staples' takeover offer and proposes different merger terms.

ODP rejected bigger-rival Staples' more than $2bn takeover offer and instead proposed merging only the consumer-focused retail operations of the two office supplies companies to avoid regulatory scrutiny. USR Parent, an American office retail company, offered to acquire ODP, an American office supply retailing company, for $2.1bn. With respect to regulatory approvals, Staples is prepared to take all necessary measures to divest ODP's B2B Business to a FTC approved and qualified buyer concurrently with the closing of the overall transaction, thereby satisfying any reasonably anticipated regulatory objections.