Report: Staples in talks with buyout firms

Is Staples looking to go private?



Less than a year after its deal to acquire Office Depot Inc. fell through due to antitrust concerns, Staples is in early discussions with private-equity bidders, according to The Wall Street Journal.



Staples had no comment on the report, which said that based on typical takeover premiums, the office supply chain could be valued at roughly $7 billion or more. But the news sent its stock soaring to a four-year high on Tuesday morning



Staples has reported declining sales for the past several years amid increased competition from online and the likes of Walmart and Costco. Under the leadership of Shira Goodman, who was named CEO last fall, the company is focusing on growing its online revenue and also expanding its relationships with small businesses.



The chain is also downsizing its store portfolio. In March, it announced plans to close 70 stores, following 50 shutterings last year. At the start of the current fiscal year, Staples had 1,255 U.S. stores and 304 Canadian locations.