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Fly News Breaks for June 22, 2017
SPLS
Jun 22, 2017 | 11:47 EDT
Reuters reported Sycamore Partners is close to acquired staples for a price that could top $6B, or approximately $8.66 per share. Citi analyst Kate McShane said the $6B offer appears low considering the value of the two business segments and things intrinsic value is closer to $12 per share based on the sum-of-the-parts valuation. McShane rates Staples a Buy with a $12 price target.
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