Has anyone heard any updates on Sycamore Partners buying Staples? I heard something may come out this week.
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game over, man! game over!
Yes the deal is done. It will be finalized December.
Ah, once again our CEO and Senior Leadership Team shows how little they know about swimming with the big fish and the reality of what a takeover is:
http://www.foxbusiness.com/features/2017/06/29/sycamore-plans-to-split-staples-into-three-separately-financed-entities-sources-say-update.html
Somewhere you can hear the hearty guffaws of Starboard Value's boardroom echoing down "The Street"
WSJ:
Sycamore Partners intends to split Staples Inc. into three to help fund its $6.9 billion purchase of the office-supply seller, in another sign of the challenges facing the retail industry.
The plan calls for Staples to be divided into three separately financed entities, according to people familiar with the matter: U.S. retail; Canadian retail; and corporate-supply businesses. The three groups will remain under the same corporate umbrella
the CIO explain how private equity is going to "save" Staples
did she actually say that? well, technically it's true. they may save Staples but only by jettisoning most of the crew. Man overboard! Most of you guys are walking the plank, matey!
Does anybody else see the hypocrisy in having the CIO explain how private equity is going to "save" Staples but not addressing how we got to where we are.
I mean for someone who has been in upper management since 1992 in Staples, there is some serious ownership issues in the decline of the company over the past 20+ years.
A tiger doesn't change it's stripes (an homage to her undergrad years) so unless our new Sycamore partners are willing to talk to the "doer" level to reinvigorate creativity and uncover the truth, stop the talking down from the management level, remove the blockers of the command and control mentality, obliterate the culture of blame, silos, and promotion based on longevity rather than merit, things will still be "business as usual" at Staples.
In short Sycamore, we the doers, have no faith or trust in our current leadership and we look to you to re-instill it by speaking with us directly and not through current leadership as they do not speak for us.
Staples in Deal With Sycamore for About $6.9 Billion: If you thought things s--- now, you ain't seen nothing yet. Your going to get carved up like a roast. I can see selling some stores, closing all the others, Selling the business delivery business to the highest bidder and likewise DOTCOM.
Salary's will be trimmed and most of the axxholes in management will be gone before Feb 18. Shira may have a deal to hang around but she will get an education too...
"Careful with names here, that's the fastest way to get your IP blocked from posting. In case you think I just started another BS rumor - you can find the site rules in the footer. Just sayin'"
Also, in the footnote, if the name is public knowledge and that person holds themselves in that position it is allowed. It is listed on the corporate website. Either grow thicker skin or quit.
Yep. Done deal. To close in December
Advice to Sycamore - fire the SVP and RVPs. waste of payroll
After a decade of bad decisions from the big bosses, this is how it ends. It didn't have to be this way but poor practices, stubbornness, unethical behavior and keeping the wrong people, leads companies to this end. Good bye Staples!
I would expect MUCH more aggressive closure of stores now, if not a complete sell off of the entire retail division. But who would want it? No one in retail NEEDS stores...
I wonder how many of the C-level execs will be replaced and how soon.
Careful with names here, that's the fastest way to get your IP blocked from posting. In case you think I just started another BS rumor - you can find the site rules in the footer. Just sayin'
I assume retail in general will be hit hardest. Makes sense. If you work at Staples i would suggest researching private equity takeovers.
Any guesses on what divisions get sold off first?
Time to trim the fat Dm's Rvps' Svp's
It's finally happening. Riding it out in my dept to see where the chips end up.
http://investor.staples.com/phoenix.zhtml?c=96244&p=irol-newsArticle&ID=2283815
Good night Staples! It's about time!
Reuters saying Shira will stay CEO of the company post sale.
It's a done deal. If you have a staples email address check your mail.
The Harvesting Approaches.
FM was just a puppet show to impress somebody
CNBC now saying it's a done deal.
Everything I've read is saying it could be announced as early as today or tomorrow morning. Wall Street is saying it's a done deal with the stock pricing out at around $10/share. Makes Staples worth somewhere between 6-7 billion I would guess.
I would put this at 77% likely