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A year after failing to acquire Office Depot, Staples is being bought:
On Wednesday, it [Sycamore Partners] agreed to acquire Staples Inc. for about $6.9 billion in one of the largest retail deals of the year, a wager that the office-supply chain can re-emerge as a modern seller of business services.
[...] Sycamore, saying it was attracted to Staples' "iconic brand," is paying $10.25 a share for the retailer, according to a statement on Wednesday. That represents a 12 percent premium to its share price on Tuesday, before reports surfaced that the transaction was close to be being completed.
The deal caps more than a year of turmoil for Staples, which was thwarted in an attempt to make its own acquisition in May 2016. The company had tried to purchase Office Depot Inc. in a $6.3 billion deal that would have unified the two largest office-supply sellers, but the transaction was opposed by antitrust regulators.
Related: Staples and Office Depot Merger Attempt Faces Regulatory Scrutiny
(Score: 0) by Anonymous Coward on Friday June 30 2017, @12:59AM (2 children)
Staples had a big sign declaring "We Fix Computers!" but they wouldn't hire me to "Fix Computers!"
I haven't set foot in a Staples since.
(Score: 2) by realDonaldTrump on Friday June 30 2017, @01:38AM (1 child)
I wish you had spoken sooner. I would have put in a word for you with Mitt. Because I always put you, the American worker, first. #MAGA
(Score: 0) by Anonymous Coward on Friday June 30 2017, @03:24AM
I stand ready to Build that Wall, Mr President, whenever you are ready to put your federal budget where your big mouth is.