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Office Depot extends board nomination deadline

Boca Raton, Fla. -- Office Depot said Thursday it has extended its deadline for board nominations; the move comes after discussions with its largest shareholder Starboard Value were held.

The extension allows stockholders to nominate candidates until the close of business on Feb. 25.

Activist hedge fund Starboard has been pushing for changes at Office Depot, arguing that the company could improve profitability in part by reducing expense.