Menu
Staples Inc. (SPLS) is exploring a sale to possible private-equity bidders, the retailer’s latest move to revive its turnaround effort after a failed merger with rival Office Depot Inc. and as competition stiffens with web retailers such as Amazon.com Inc.
Update(s):
May 02, 2017: Cerberus Capital Management LP and Sycamore Partners are the two private equity firms actively exploring an acquisition of Staples Inc (SPLS), the U.S. office supplies retailer, people familiar with the matter said on Tuesday.
June 22, 2017: Private equity firm Sycamore Partners is in advanced talks to acquire Staples Inc (SPLS) following an auction for the U.S. office supplies retailer, people familiar with the matter said on Wednesday, in a deal that could top $6 billion.
June 28, 2017: Staples and Sycamore Partners announced that they have entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire the Company in a transaction that values Staples at an equity value of approximately $6.9 billion. Under the terms of the merger agreement, all Staples’ stockholders will receive $10.25 per share in cash for each share of common stock they own.