staples store

Staples and private equity firm Sycamore Partners have entered into a merger agreement in which investment funds managed by Sycamore will acquire the office superstore in a transaction valued at approximately $6.9 billion.

Under the terms of the merger agreement, all Staples’ stockholders will receive $10.25 per share in cash, which represents a premium of approximately 20% to the 10-day volume weighted average stock price for Staples shares for the period ended April 3, 2017, the last trading day prior to widespread media speculation about a potential transaction.

Staples’ board of directors has unanimously approved the merger agreement and recommends that all Staples stockholders vote in…