Staples Shares Jump on Media Report of Sale Talks - NBC10 Boston

Staples Shares Jump on Media Report of Sale Talks

Staples and Office Depot faced heavy regulatory resistance over a proposed merger, which was eventually blocked

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    NEWSLETTERS

    Staples Shares Jump on Media Report of Sale Talks
    Joe Raedle/Getty Images, File
    A Staples store is seen on February 3, 2015, in Miami.

    Shares of Staples Inc. jumped Tuesday on reports that the office supply chain is exploring a sale less than a year after it scrapped a $6.3 billion merger with rival Office Depot.

    The Wall Street Journal reports that the company is in early talks with private-equity bidders. Staples said it has no comment on the report.

    The stock rose $1.18, or 13.6 percent, to $9.84 in morning trading.

    Staples and Office Depot faced heavy regulatory resistance over their proposed merger, culminating in a federal judge blocking the deal. The companies abandoned the deal in May and said they would move forward with new business strategies.

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    Police released footage of a mother who said she accidentally left her 5-month-old in a car for half an hour in a Goodyear, Arizona, parking lot when she, her sister and other daughter went into the store. Officers are heard on camera saying it was about 99 degrees outside. 

    (Published Thursday, Aug. 22, 2019)