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Staples explores sale

Tuesday, April 04, 2017 - 00:37

Staples, the largest U.S. office supplies retailer, is considering selling itself, and is in talks with private-equity bidders, a source familiar with the situation told Reuters. Fred Katayama reports.

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A source says Staples is in talks with private-equity firms to sell itself. The office supply retailer declined to comment. The company's shares shot sharply higher on the news. Staples has been struggling with falling sales for the last five years. In its most recent quarter, it lost more than half a billion dollars amid a three-percent decline in sales. In 2015, Staples tried to merge with rival Office Depot to help deal with declining sales, but the deal was called off a year later due to antitrust concerns.

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Staples explores sale

Tuesday, April 04, 2017 - 00:37