(Adds details, updates shares)
April 4 Staples Inc is considering
selling itself, and is in talks with private-equity bidders, a
source familiar with the matter said on Tuesday, sending the
largest U.S. office supplies retailer's shares up about 15
The retailer last year called off a proposed merger with
rival Office Depot Inc due to antitrust concerns.
Both companies have since announced cost-cutting plans and
sold most of their European operations to focus on their North
Framingham, Massachusetts-based Staples had a market value
of $5.65 billion as of Monday.
Staples has reported falling sales for the last five years
as it faces growing competition from Amazon.com and
other online sellers, as well as big-box retailers such as
Costco Wholesale Corp and Wal-Mart Stores Inc.
Staples spokesman Mark Cautela declined to comment.
Office Depot's shares rose about 5.3 percent to $4.94 in
The Wall Street Journal reported earlier that Staples was
exploring a sale.
(Reporting by Sruthi Ramakrishnan in Bengaluru and Lauren
Hirsch in New York; Editing by Sai Sachin Ravikumar and Martina