Staples-owner Sycamore offers to buy workplace wholesaler Essendant

Staples-owner Sycamore offers to buy workplace wholesaler Essendant

Staples-owner Sycamore Partners on Wednesday reported a roughly 9.9 percent stake in workplace wholesaler Essendant and its offer to buy the rest of the company for $11.50 per share in cash. Shares of Essendant, which closed at $11.03 a share, were up 2.45 percent in after-market trading, giving it a market capitalization of $415 million. Sycamore’s offer is the clearest indication to date of its plans to push Staples further into business-to-business services and away…

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