Shares of Staples were climbing in mid-morning trading on Tuesday as the company is in talks to sell its European stores to New York City-based private equity firm Cerberus Capital Management for a nominal amount, sources said, Staples' U.K. high street shops are expected to be part of the takeover deal, though Cerberus might close those stores, according to the Telegraph. The office supply retailer also owns an e-commerce division and a business-to-business unit in the U.K. These units have been more profitable than Framingham, MA-based Staples' U.K. brick-and-mortar retail operations, the Telegraph noted.
More...
More...