After the failed merger attempt with Office Depot, which subsequently caused former CEO Ron Sargent to leave the company, Staples has indicated that it will explore a sale.
According to the Boston Globe, the Farmingdale, Massachusetts-based office supply giant reportedly is in preliminary talks with private-equity firms to discuss a sale. Sources close to the the matter told The Wall Street Journal yesterday that the discussions may not lead to a sale, however.
Staples explores sale to buyout firms after its failed merger with Office Depot; stock jumps 13% https://t.co/0OqG5HSqKv
— The Wall Street Journal (@WSJ) April 4, 2017
Due to the news, Staples stock jumped almost 10 percent, closing yesterday at $9.51.
As the parent company to Staples Promotional Products, this sale could have larger repercussions through the promotional products industry.
