Office supplies giant still weighing takeover offer

Staples Inc. has rejected a buyout offer.



The company turned down a takeover offer from Cerberus Capital Management, saying it was too low, Bloomberg reported. However, another private equity firm, Sycamore Partners, is still in the running to acquire Staples.



The bid from Cerberus valued the retailer at more than its current market value of about $5.8 billion, according to Bloomberg.



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