Activist Client Starboard Featured in Numerous Media Reports Ahead of Upcoming Proxy Contest at Office Depot
The Wall Street Journal, FOXBusiness, Law360 (subscription required), Reuters, Chicago Tribune, BloombergBusinessweek and other media outlets reported on Olshan client Starboard Value’s upcoming proxy contest at Office Depot. The news comes as the Delaware Chancery Court ruled earlier this week that Office Depot must hold its annual meeting on August 21, 2013, after Starboard had initiated an action to force the annual meeting be scheduled without further delay. Based upon the court order, Starboard withdrew its consent solicitation and will seek to elect four directors at the company’s annual meeting. Starboard is the largest common shareholder of the company and has been urging Office Depot to revamp the board prior to completing its proposed merger with OfficeMax. Steve Wolosky and Andrew M. Freedman represent Starboard in connection with its activist investment at Office Depot.