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Staples surges following reports that the company is close to being acquired (SPLS)





Customers shop at the Staples store in Manhattan, New York, U.S., August 15, 2016. REUTERS/Eduardo Munoz  - RTX2L3JJ

Staples jumped 8% in late trading on Wednesday after The Wall Street Journal and Reuters reported that the company was close to being acquired.

The private-equity firm Sycamore was near a deal to acquire the office-supplies retailer for $10 a share in a deal worth more than $6.5 billion, the WSJ said, citing people familiar with the matter.

Staples’ stock closed at $9.93, and the company had a market cap of about $6 billion.

A deal could be announced as soon as Wednesday, the reports said. According to Reuters, Sycamore won an auction for the retailer.

Staples scrapped a read more >>>

Source:: BusinessInsider.Com

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