NEW YORK ( TheStreet) -- Office Depot ( ODP) is the most likely retail takeover target in 2011, according to TheStreet readers. Following the resurgence of M&A deals in the retail sector towards the end of 2010, investors began speculating about the next acquisition. And according to 33.7% of voters, Office Depot has the greatest chance of being bought out in the New Year. The office supply retailer piqued Wall Street's interest after a filing with the Securities and Exchange Commission signaled that a buyout may be on the horizon. In the filing, Office Depot said it entered into a new change-in-control agreement with CFO Michael Newman; President of International Charles Brown; and Steven Schmidt, president, North American business solutions; in order to "diminish the potential distraction due to personal uncertainties and risks that inevitably arise when a change of control is threatened or pending." >>Retail M&A: 17 Possible Deals in 2011 As part of the agreement, the three executives are guaranteed employment for a year after a change of control, paying them 12 times their highest monthly salary, plus a bonus equal to the highest one received in the prior three years. If they decide to leave, they will get their accrued salary and bonus, plus two times their base salary. The move follows another filing in November, which outlined the chief financial officer's retention agreement, and which provided for the immediate vesting of his two-year retention payout if his employment was terminated for a reason other than cause. In October, former CEO Steve Odland resigned a week after settling regulatory charges with the SEC that alleged Office Depot selectively warned analysts about disappointing profits. On Monday, Office Depot was upgraded by Janney Capital Markets to buy from neutral. Analyst David Strasser cited the appointment of a new CEO, an improving job market, potential consolidation within the office supply sector, and the company's moves to cut cost, increase private label sourcing and improve merchandise, as catalysts for the upgrade. GameStop ( GME) came in a close second. With 30.7% of voters expecting to see the video game retailer acquired. While speculation has waned substantial from earlier in the year, GameStop continues to be a stock to watch when it comes to M&A.