Staples has rejected a possible takeover bid from one investment firm, but a second from a different firm appears to still be alive.
Citing sources familiar with the matter, Bloomberg reported that the office superstore has rejected an offer from Cerberus Capital Management, but that a second suitor, Sycamore Partners, may still have a shot at acquiring the retailer.
The report indicated that Staples nixed the offer from Cerberus, which is believed to have valued the retailer at more than its current market value of approximately $5.8 billion. There were no details on a possible Sycamore bid.
Cerberus and Staples are no strangers, with the former recently acquiring a controlling stake in the office superstore’s European operations.
News surrounding a possible sale of Staples comes nearly a year after a merger deal between Staples and Office Depot was nixed following opposition to the deal by the U.S. Federal Trade Commission.
