June 23, 2017
CNBC reported that the offer on the table could potentially exceed $6 billion (€5.3 billion) and the deal should be sealed next week. It has been a year since the failed merger of Staples and Office Depot after a judge ruled that it could not take place and Sycamore believes that it can change the Staples business model from “serving consumers to catering to companies” once it goes private.
Sycamore partners outbid Cerberus Capital Management with their bid and are finalising a “debt financing package for its bid for Staples” and an agreement could be finalised as early as next week if deal discussions go well.
Sources who did not want to be named indicated that the deal discussions are confidential and there is still everything to play for.
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