Staples, Inc. shareholders have approved private equity firm Sycamore Partners’ purchase of the company.
The US$6.9 billion transaction, which was announced in June, calls for Staples shareholders to receive $10.25 per share in cash. The deal is now subject to customary regulatory approvals and is expected to be finalized in the next few weeks, The Boston Globe 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.