Reuters is reporting Sycamore Partners beat out Cerebus to possibly acquire Staples, the retailer of pens, pencils and pleather chairs — for around $6b — which is close to the last price quoted at the end of trading yesterday.
Financing for the deal is being finalized as we speak, which should lead to an official announcement something next week.
For the life of me, I have no idea why details of deals like this get leaked.
If the deal goes through, Sycamore will retool the company to cater to the enterprise market, in favor of back to school retards.
Sales for the beleaguered retailer have been in the shitter for some time now. I am sure the C level execs at Staples would prefer to end this nightmare now, with a deal, instead of dragging it out any longer than necessary.
Company’s leak it so they can get more value, bankers leak it to try to get a higher price which means more fees, etc. it’s always for some selfish reason and it’s a shame these news organization run the rumors without questioning the incentives of who is telling them
..and because confidentiality agreements have no teeth.
Why would anyone want to buy a brick and mortar retailer when they are all dying? Amazon will kill them off like they’re killing off everyone else.