Sycamore Partners Reportedly In Advanced Talks To Acquire Staples

(RTTNews) - The shares of Staples Inc. (SPLS) surged about 5% in Wednesday after-hours trading after media report said that private equity firm Sycamore Partners is in advanced talks to acquire the office supplies retailer.

The report said Sycamore is finalizing a debt financing deal with Staples after beating out Cerberus Capital Management in an auction. A final deal, which may top $6 billion, could be announced next week.

SPLS closed Wednesday's regular trading at $8.66, down $0.09 or 1.03 percent. But, in the after-hours, the stock gained $0.42 or 4.85 percent.