Sycamore Partners to buy Staples for $6.9 billion
Publishing timestamp: 2017-06-28 21:30:44
Summary
Sycamore Partners will buy Staples for $10.25 per share in a deal valued at $6.9 billion. Staples' stock surged more than 8 percent after the announcement. Sycamore has confidence in Staples' management team and sees potential in the company shifting its business model if it were to go private. Retail deals have been rare in the first quarter of the year, but Sycamore specializes in retail investments and has been more bullish on the sector.
Sentiment: POSITIVE
Tickers: .AD.IXIC,
Keywords: retail industry, markets, business news, staples inc,
Source: https://www.cnbc.com/2017/06/28/staples-shares-jump-on-report-of-potential-buyout-at-10-a-share.html