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: 2) by kaszz on Friday June 30 2017, @09:04AM
When Staples gets taken over, what product or price scam will we experience?