Investment Adviser Launches Office Depot Proxy Fight

Law360, New York (April 22, 2013, 4:41 PM EDT) -- The largest common shareholder in Office Depot Inc. announced Monday that it would seek investor support to appoint several new board members following the company's failure to hold a shareholder meeting, seeking to install its directors before the company closes its $1.2 merger with OfficeMax Inc.

In a letter to the Office Depot board, investment advisory firm Starboard Value LP, which owns roughly 14.8 percent of the office supply company, blasted its senior management for failing to schedule an annual shareholder meeting so investors can vote...
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