Office Depot Inc reported a weaker-than-expected quarterly profit on Tuesday and said it would hold a special meeting with investors to seek approval for its pending merger with rival OfficeMax Inc.The news comes as the retailer's board faces heat from its largest shareholder, Starboard Value LP, and awaits regulatory approval for the OfficeMax deal.Office Depot said it would hold a special investor meeting "as promptly as reasonably possible" after the staff of the U.S. Securities and Exchange Commission finishes reviewing merger-related documents.The company, which in early April received a request for additional information from the Federal Trade Commission, said it was in the process of preparing its response.
Office Depot, Inc. (Office Depot) is a global supplier of office products and services. Shares of ODP remained unchanged at $3.70. In the past year, the shares have traded as low as $1.51 and as high as $6.10. On average, 11097200 shares of ODP exchange hands on a given day and today's volume is recorded at 10470.
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