USR Parent, Inc. entered into term sheet to acquire Consumer Business of The ODP Corporation (NasdaqGS:ODP) for $1 billion on June 4, 2021. USR Parent intends to provide the Company with customary equity and debt financing commitment letters sufficient to provide all required funding for the transaction. The transaction is subject to regulatory and antitrust approvals. Simpson Thacher & Bartlett LLP acted as legal, whereas Goldman Sachs & Co. LLC acted as financial advisor to The ODP Corporation.

USR Parent, Inc. cancelled the acquisition of Consumer Business of The ODP Corporation (NasdaqGS:ODP) on June 21, 2022. Following the completion of review, the Board of Directors of ODP Corporation unanimously determined it is in the best interests of the Company and its shareholders not to divest the consumer business at this time.