Staples is being acquired by private equity firm Sycamore Partners for approximately $6.9 billion, according to a company statement issued Wednesday evening. It is Sycamore’s biggest deal yet, according to Bloomberg.
Under terms of the merger agreement, Staples’ stockholders will receive $10.25 per share in cash, a premium of roughly 20% before trading was halted on April 3 as rumors of a sale circulated. The transaction is expected to close no later than December 17.
