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Staples to announce sale to Sycamore Partners on Wednesday: source

A shopping cart is seen outside a Staples office supplies store in the Chicago suburb of Glenview, Illinois, February 4, 2015.

1 office supply chain Staples and smaller rival Office Depot Inc said on May 10, 2016, they would terminate their planned merger after a U.S. federal judge ordered the deal temporarily halted because of antitrust concerns.

(Reuters) - Staples Inc (SPLS.O) will announce its sale to private equity firm Sycamore Partners for $10.25 per share in cash on Wednesday, a person familiar with the matter said on condition of anonymity.

Reuters had reported last week that Sycamore Partners was close to a deal to Acquire Staples for more than $6 billion after prevailing in an auction for the U.S. office supplies retailer.

(Reporting by Lauren Hirsch in New York; Editing by Nick Zieminski)

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Staples to announce sale to Sycamore Partners on Wednesday: source


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