An activist investor is calling for the merger of Staples and Office Depot, reports say.
Regulatory filings show Starboard Value boosted its stake in Office Depot to nearly 10 percent and revealed a 5.1 percent stake in Staples. Unnamed sources say Starboard is strategizing to promote a merger of the two.
The office supply industry has seen some consolidation recently; last year, the Federal Trade Commission approved of Office Depot’s $976 million acquisition of OfficeMax.
A combination of Staples and Office Depot was thwarted by regulators 17 years ago. This time, however, experts say regulators could clear a merger to boost competition in a saturated industry. Reports say a deal could reach $6 billion.
Full content: Reuters
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