The ODP Corporation noted the open letter sent to the company by AREX Capital Management on December 18, 2023, and issued the following statement in response: “We thank AREX for its input, as we welcome all shareholders’ views on the Company and the most effective way for it to realize value for our investors. The Board regularly and actively evaluates the Company’s strategic plan – including its approach to capital allocation and any potential alternatives for its businesses – and will continue to do so, informed by, among other things, the views expressed by AREX or other shareholders.”
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