Staples Is Said to Agree to $6.5 Billion Buyout
RisingWorld
2017-06-29
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Staples Is Said to Agree to $6.5 Billion Buyout
By MICHAEL J. de la MERCEDJUNE 28, 2017
Staples, the mainstay of office supplies, has agreed to sell itself to the private equity firm Sycamore
Partners for more than $6.5 billion, a person briefed on the matter said on Wednesday.
Sycamore, a specialist in retailers that already owns the likes of Belk, Talbots
and Hot Topic, plans to pay a little over $10 a share, said the person, who was not authorized to speak publicly about the transaction.
A sale of Staples would come more than a year after the company was blocked from merging
with a competitor, Office Depot, amid opposition by the Obama administration.
By MICHAEL J. de la MERCEDJUNE 28, 2017
Staples, the mainstay of office supplies, has agreed to sell itself to the private equity firm Sycamore
Partners for more than $6.5 billion, a person briefed on the matter said on Wednesday.
Sycamore, a specialist in retailers that already owns the likes of Belk, Talbots
and Hot Topic, plans to pay a little over $10 a share, said the person, who was not authorized to speak publicly about the transaction.
A sale of Staples would come more than a year after the company was blocked from merging
with a competitor, Office Depot, amid opposition by the Obama administration.
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