Forgot Password

Report: Sycamore Partners Close To Staples Acquisition

Some 13 months after Staples’ effort to acquire Office Depot was quashed by a Federal judge, the Massachusetts-based office superstore may soon have a new owner.

According to a Reuters report, private equity firm Sycamore Partners is in “advanced talks” to acquire Staples following an auction for the retailer. Citing sources familiar with the deal, the report said the potential deal could top $6 billion.

While negotiations were said to be ongoing, there is a possibility that a deal could be announced in the coming days, the report said.

For more than a year, Staples has been involved in a variety of merger and acquisition talks, the most prominent of which included its failed effort to buy Office Depot. The deal was contested by the U.S. Federal Trade Commission over concerns that the merger would hurt competition in the business-to-business office products sector.

In May, Bloomberg reported that Staples rejected a possible takeover bid from Cerberus Capital Management.