Report: Staples rejected takeover offer
Mark Lennihan / AP
Only two private equity firms want to take over Staples Inc. — Cerberus and Sycamore — but now that's down to just one, per Bloomberg.
- Staples rejected a buyout from Cerberus Capital Management because they considered the offer too low. Now, only Sycamore Partners is left on the list of companies likely to buy the office supplies giant.
- Quick take: That the only two offers came from Cerberus and Sycamore is not good news for Staples, since both firms are known more for taking on troubled companies than strong ones.
- Reality check: Things might have been much different if Staples hadn't been blocked from buying Office Depot last year, after the regulatory and legal system determined that such a combination would unfairly reduce competition for big business customers.