Office Depot shares surged after hedge fund Starboard Value L.P. said it had become the retailer's largest shareholder.
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Office Depot shares surged Monday after a hedge fund said it had become the retailer’s largest shareholder.
New York-based Starboard Value L.P. announced it now owns 13.3 percent of the Boca Raton company, putting pressure on Office Depot to boost profits and cut costs to compete with rivals Staples and Office Max.
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