STAPLES AGAIN PROPOSES BUYING OFFICE DEPOT

Staples is looking to purchase competitor Office Depot – again. On Monday, Staples sent Office Depot’s board of directors a proposal to acquire “100% of the issued and outstanding common stock” of the company for $ 40 per share, which it says represents a 61% premium over the chain’s average closing price during the preceding 90 trading days. The deal is valued at $ 2.1 billion and this is the third time Staples tried to purchase the rival chain. Office Depot confirmed in a statement that it had received Staples’ acquisition proposal and is reviewing it.

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