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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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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