Staples, Inc. has been acquired by private equity firm Sycamore Partners for US$6.9 billion.
Per the terms of the transaction, Staples shareholders will receive $10.25 per share in cash. The deal is subject to shareholder approval and is forecasted to be finalized by the end of the year, USA Today reports.
Founded in 1986, Boston, MA-based Staples, Inc. is a leading office-products company with annual sales of US$25 billion and more than 90,000 employees in 26 countries. For more information, visit www.staples.com.