RTTNews | Jan 14, 2022 10:39AM EST

10:38 Friday, January 14, 2022 (RTTNews.com) - Shares of office supply retailing company, The ODP Corporation (ODP) are climbing more than 4% Friday morning.

The company today said its Board has decided to delay the previously announced company's separation to evaluate a potential sale of its consumer business.

In May 2021, ODP's Board had approved a plan to spin-off the company into two publicly-traded companies.

In December 2021, ODP had said that its Board received a non-binding proposal from another third party to acquire the ODP's consumer business.

"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," said Gerry Smith, chief executive officer of The ODP Corporation.

ODP, currently at $43.03, has been trading in the range of $34.02- $51.40 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3255180/odp-corp-gains-as-co-delays-spin-off.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved