Notable News Recap: Office Depot Inc (NASDAQ:ODP), SYSCO Corporation (NYSE:SYY), American Tower Corp (NYSE:AMT)

On Wednesday, Shares of Office Depot Inc (NASDAQ:ODP), SUBTRACT -0.56% and closed at $3.53 in the last trading session. The last trading range of the stock ranges between $3.52 and $3.62. Office Depot, Inc. (ODP) recently declared that it intends to sell its European business to The AURELIUS Group.

Office Depot had formerly revealed its intention to explore planned alternatives regarding its European business, under a process that began earlier this year.

“The sale of our European business will allow us to streamline operations and focus our resources on markets that will provide the best opportunity to implement our recently declared three year planned plan,” said Roland Smith, chairman and chief executive officer for Office Depot. “The AURELIUS Group has a proven track record of positioning its acquisitions for future success and we look forward to working with them to complete this transaction.”

Since 2005 AURELIUS has accomplished more than 70 transactions across Europe and specializes in investing in companies and corporate spin-offs, in addition to complex divisional carve-outs from corporates.

SYSCO Corporation (NYSE:SYY), DROPPED -0.06% and closed at $47.77 in the last trading session. The last trading range of the stock ranges between $47.44 and $48.01. The company’s Market capitalization is $26.08 Billion with the total Outstanding Shares of 555.13 Million. Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products mainly to the foodservice or food-away-from-home industry in the United States, Bahamas, Canada, Ireland, Costa Rica, and Mexico. It operates through Broadline, SYGMA, and Other segments. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce. It also supplies various non-food items, counting paper products comprising disposable napkins, plates, and cups; tableware consisting of China and silverware; cookware consisting of pots, pans, and utensils; restaurant and kitchen equipment and supplies; and cleaning supplies. In addition, the company offers specialty meat products, such as custom-cut fresh steaks, other meat, and poultry products; and lodging industry products, counting personal care guest amenities, equipment, housekeeping supplies, room accessories, and textiles. It serves restaurants, hospitals and nursing homes, schools and colleges, hotels and motels, industrial caterers, and other foodservice venues through 200 distribution facilities.

American Tower Corp (NYSE:AMT), LOST -2.97% and closed at $107.44 in the last trading session. The last trading range of the stock ranges between $107.26 and $110.86. During the 52-week trading session the minimum price at which share price traded, registered at $83.07 and reached to max level of $118.26.American Tower Corporation is a real estate investment trust. It invests in the real estate markets across the globe. The firm engages in leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries.

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