Staples Shares Rise on News of Possible OfficeMax/Office Depot Merger (SPLS)
News of the rumored OfficeMax and Office Depot merger caused shares of office supply retailer, Staples, Inc.(SPLS) to rise on Tuesday morning.
The possible merger caused shares of Staples to increase as the company could be a takeover target as well. Recently there have been rumors that a private equity firm planned to acquire SPLS with a a $20 purchase price.
The proposed OMX/ODP merger could also result in store closings, which would benefit Staples in nearby locations.
Staples shares were up $1.67, or 12.90% during premarket trading Tuesday. The stock has declined -14.5% in the past year.
The Bottom Line
Shares of Staples, Inc.(SPLS) have a 3.40% yield, based on Friday’s closing price of $12.95.
Staples, Inc.(SPLS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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