Private Equity | Sycamore Partners (2024)

FRAMINGHAM, Mass. & NEW YORK--(BUSINESS WIRE)-- Staples, Inc. (NASDAQ: SPLS or the “Company”) and Sycamore Partners, a leading private equity firm, today announced that they have entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire the Company in a transaction that values Staples at an equity value of approximately $6.9 billion. Under the terms of the merger agreement, all Staples’ stockholders will receive $10.25 per share in cash for each share of common stock they own, which represents a premium of approximately 20 percent to the 10-day volume weighted average stock price for Staples shares for the period ended April 3, 2017, the last trading day prior to widespread media speculation about a potential transaction.

Staples’ Board of Directors has unanimously approved the merger agreement and recommends that all Staples stockholders vote in favor of the transaction.

Robert Sulentic, Chairman of the Board, said, “Today’s announcement is the result of a comprehensive process in which our Board, with the assistance of a transaction committee comprised of independent directors, and outside financial advisors, explored and considered various alternatives to enhance value for our stockholders. Staples’ Board believes that this process has led to a transaction which is in the best interests of our stockholders, as well as Staples and its employees.”

The transaction is subject to customary closing conditions, including the receipt of regulatory and stockholder approval, and is expected to close no later than December, 2017. The closing is not subject to a financing condition.

“With an iconic brand, a winning strategy, and dedicated and passionate associates who are deeply focused on the customer, Staples is truly an outstanding enterprise,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “We have tremendous confidence in CEO Shira Goodman and great

respect for the Staples management team and are excited about this opportunity to partner with them to accelerate long-term profitability.”

“The Sycamore Partners’ team shares Staples’ entrepreneurial spirit and long-term vision,” said Shira Goodman, Chief Executive Officer and President, Staples, Inc. “This transaction will enable us to drive greater value for our customers and immense opportunity for our business.”

Barclays and Morgan Stanley & Co. LLC are acting as financial advisors and Wilmer Hale LLP is acting as legal advisor to Staples.

UBS Investment Bank, BofA Merrill Lynch, Deutsche Bank, Credit Suisse, Royal Bank of Canada, Jefferies, Wells Fargo Bank, National Association and Fifth Third Bank are providing debt financing for the transaction. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as financial advisors and Kirkland & Ellis LLP is acting as legal advisor to Sycamore Partners.

About Staples, Inc.

Staples brings technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about empowering people to become true professionals at work. Headquartered outside of Boston, Mass., Staples, Inc. operates primarily in North America. More information about Staples (NASDAQ: SPLS) is available at www.staples.com.

About Sycamore Partners

Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $3.5 billion in capital under management. The firm's strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses. The firm's investment portfolio currently includes Belk, Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Talbots, The Limited and Torrid.

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

This filing may be deemed solicitation material in respect of the proposed acquisition of the Company by Sycamore Partners. The Company plans to file with the SEC and mail to its stockholders a Proxy Statement in connection with the transaction. This filing does not constitute a solicitation of any vote or approval. The Proxy Statement will contain important information about Sycamore Partners, the Company, the merger and related matters. Investors and security holders are urged to read the Proxy Statement carefully when it is available. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by Sycamore Partners and the Company through the web site maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the Proxy Statement from the Company by contacting Staples Investor Relations department at investor@staples.com. In addition, the proxy statement and our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through our website at investor.staples.com as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.

The Company, and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders with respect to the transactions contemplated by the merger agreement. Information regarding the Company’s directors and executive officers, including their ownership of the Company’s securities, is contained in the Company’s Annual Report on Form 10-K for the year ended January 28, 2017 and its proxy statement dated April 20, 2017, which are filed with the SEC. Investors and security holders may obtain additional information regarding the direct and indirect

interests of the Company and its directors and executive officers in the proposed transaction by reading the proxy statement and other public filings referred to above.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

Statements in this press release regarding the proposed transaction between Sycamore Partners and the Company, the expected timetable for completing the transaction, future financial and operating results, future opportunities for the combined company and any other statements about Sycamore Partners and the Company managements’ future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” estimates and similar expressions) should also be considered to be forward looking statements, although not all forward-looking statements contain these identifying words. Readers should not place undue reliance on these forward-looking statements. The Company’s actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the Company may not be able to predict and may not be within the Company’s control. Factors that could cause such differences include, but are not limited to, (i) the risk that the proposed merger may not be completed in a timely manner, or at all, which may adversely affect the Company’s business and the price of its common stock, (ii) the failure to satisfy all of the closing conditions of the proposed merger, including the adoption of the merger agreement by the Company’s stockholders and the receipt of certain governmental and regulatory approvals in the U.S. and in foreign jurisdictions, (iii) the occurrence of any event, change or other circ*mstance that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the proposed merger on the Company’s business, operating results, and relationships with customers, suppliers, competitors and others, (v) risks that the proposed merger may disrupt the Company’s current plans and business operations, (vi) potential difficulties retaining employees as a result of the proposed merger, (vii) risks related to the diverting of management’s attention from the Company’s ongoing business operations, and (viii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the proposed merger. There are a number of important, additional factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including the factors described in the Company’s Annual Report on Form 10-K for the year ended January 28, 2017 and its most recent quarterly report filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170628006475/en/

Staples, Inc.

Media Contacts:

Mark Cautela, 508-253-3832

mark.cautela@staples.com

or

Investor Contact:

Chris Powers, 508-253-4632

christopher.powers@staples.com

or

Joele Frank for Sycamore Partners

Michael Freitag or Arielle Rothstein, 212-355-4449

media@sycamorepartners.com

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Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater valuetion implies confidence in securing the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value fors confidence in securing the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customersonfidence in securing the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers ande in securing the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business in securing the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business throughuring the necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through thethe necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnershiphe necessary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

sary funds for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

Thes for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial for the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors the acquisition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors forsition.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staplesn.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are.

Key players in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclayss in the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and the deal include Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morganclude Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanleyde Stefan Kaluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley &aluzny, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Coy, Managing Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co.naging Director of Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC.

4.Sycamore Partners, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC,Financing ands, expressing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with:ing confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal confidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal adviceonfidence in Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Barclaysn Staples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilaples' strategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmerstrategy and leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale &nd leadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLPleadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP.eadership. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Srship. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycp. Staples' CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycam as CEO, Shira Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamorea Goodman, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners, highlights the opportunity for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives while Wilmer Hale LLP isty for greater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advicegreater value for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from the legal for customers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from Btomers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynchers and business through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch andbusiness through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutschesiness through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bankness through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securitiesss through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc through the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc.,hrough the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., withough the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legalh the partnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel fromtnership.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkship.

The financial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland Bfinancial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland &nancial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellisancial advisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLPdvisors for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filings for Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing ofr Staples are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional are Barclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional informationBarclays and Morgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the Incrgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SECgan Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, Stanley & Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including Co. LLC, with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a with legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxywith legal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statementlegal advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that advice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that willice from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will providee from Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further Wilmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further detailsmer Hale LLP. Sycamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about legalcamore Partners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about theartners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transactiontners receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investorsers receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors ands receives financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holderss financial advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders arel advice from BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged,BofA Merrill Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review U Lynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review thisynch and Deutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this informationutsche Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

e Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In Bank Securities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summaryurities Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary,es Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, thiss Inc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger betweenc., with legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staplesh legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, legal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Incal counsel from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. from Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Kirkland & Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and S& Ellis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamlis LLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and SycamoreLLP.

The announcement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partnersnouncement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcasesncement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases acement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategicement concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic movent concludes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move inudes with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the with important information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape:ant information regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving nformation regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key playersormation regarding the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, transactionng the filing of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors subjectng of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors,of additional information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, andnal information with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legalrmation with the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teamsh the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. the SEC, including a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensiveincluding a Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation Proxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation processxy Statement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process andtement that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the that will provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvementl provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of provide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firmsvide further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscoree further details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the details about the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance closeabout the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of thisut the transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A transaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A dealsaction. Investors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal inInvestors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal in thenvestors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal in the businessstors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal in the business worldtors and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal in the business world.s and security holders are urged to carefully review this information.

In summary, this merger between Staples, Inc. and Sycamore Partners showcases a strategic move in the corporate landscape, involving key players, financial advisors, and legal teams. The comprehensive evaluation process and the involvement of reputable firms underscore the significance of this M&A deal in the business world.. Forward-Looking Statements:

  • The press release includes a "safe harbor" section for forward-looking statements, outlining the potential factors that could cause actual results to differ from those anticipated.

This merger reflects the ongoing dynamics in the retail sector and the strategic decisions made by companies to enhance shareholder value. As additional information becomes available, I will continue to analyze and provide insights into the implications of this transaction on both Staples and Sycamore Partners.

Private Equity |  Sycamore Partners (2024)
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