Starboard Plans Proxy War For Board Representation in Office Depot

Hedge Fund Starboard Value LP plans to launch a formal proxy war to place four of its nominees on the board of Office Depot Inc (NYSE:ODP). The activist hedge fund Starboard Value LP’s slate of four directors includes former The Home Depot, Inc. (NYSE:HD) and Chrysler CEO Robert Nardelli and the hedge fund’s own Jeffrey Smith. The hedge fund indicated that it intends to file its proxy materials with the Securities and Exchange Commission shortly. Earlier, Starboard Value LP, an activist hedge fund, nominated six candidates to the board of directors of Office Depot, Inc. (NYSE:ODP) revealing that it is significant…