After its proposed merger with Staples Inc. (Nasdaq: SPLS) failed to clear regulators, Office Depot Inc. (Nasdaq: ODP) hired Bain & Co. to review options for the business. The company officially terminated the Staples deal on May 16.

Boca Raton, Florida-based Office Depot is considering divesting its European business, making additional acquisitions, and increasing its presence in break room and cleaning supplies, according to CEO Roland Smith. “We are working to finalize our framework for growth and ensure that our capital structure is optimized to drive total shareholder return,” adds Smith, who was named Office Depot’s CEO in November 2014.

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