Sycamore Partners / Staples Aquires Essendant

Staples can now claim victory in its battle to acquire Essendant. Staples, Inc. and Essendant Inc. announced a definitive agreement under which an affiliate of Staples will acquire all of the outstanding shares of Essendant.  In connection with the termination of the agreement to combine with Genuine Parts Company’s (GPC) S.P. Richards business, GPC is entitled to a $12 million break-up fee, which Staples is paying as part of its agreement with Essendant.

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