Staples (SPLS) Surges as Office Depot/OfficeMax Close to a Deal
Tweet
Share
E-mail
Get Alerts SPLS Hot Sheet
Join SI Premium – FREE
Staples, Inc. (NASDAQ: SPLS) is jumping higher early Tuesday in response to reports Monday that rivals OfficeMax, Inc. (NYSE: OMX) and Office Depot (NYSE: ODP) are in advanced talks to merge.
The news could put the spotlight back on Staples as a takeover target itself. In the recent past, rumors were present that private equity firm could target the company with a price tag of $20 per share mentioned. In addition, a merger of OfficeMax and Office Depot could lead to some store closings, which would benefit Staples in some locations.
Shares of Staples last traded at $14.75, up 13.9%.
The news could put the spotlight back on Staples as a takeover target itself. In the recent past, rumors were present that private equity firm could target the company with a price tag of $20 per share mentioned. In addition, a merger of OfficeMax and Office Depot could lead to some store closings, which would benefit Staples in some locations.
Shares of Staples last traded at $14.75, up 13.9%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citigroup set to join top banks in Anthropic IPO - Bloomberg
- Holcim said to acquire part of James Hardie's EU business
- Bessent on Iran: maximum economic pressure means likely not a kinetic restart
Create E-mail Alert Related Categories
Rumors, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
