Starboard Value, the New York hedge fund that instigated the merger of Office Depot and Office Max and then pushed for Staples to acquire Office Depot, has sold its Office Depot shares, except some options to buy the stock, according to regulatory filings.
In 2013, Starboard Value had a 15 percent stake in Office Depot. Principal Jeffrey Smith still owns 45,836 shares, granted when he held a board seat on Office Depot.
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