Office supply giant close to buyout in blockbuster deal

Staples is close to returning to private ownership.



Private equity firm Sycamore Partners is in advanced talks to acquire Staples, according to numerous media reports. The deal could top $6 billion, reported Reuters, which said Sycamore is in the process of finalizing a debt financing deal with Staples. Sycamore repeatedly beat out Cerberus Capital Management in an auction.



In May 2016, Staples abandoned its plans to acquire rival Office Depot for some $6.3 billion amid antitrust concerns by the Federal Trade Commission. Staples operates 1,255 stores in the United States, and 304 in Canada.