Staples (SPLS), Office Depot (ODP) in Advanced Talks to Merge - WSJ

Staples (Nasdaq: SPLS) and Office Depot (Nasdaq: ODP) are in advanced talks to merge, according to a late Monday report from the Wall Street Journal.

Price and terms of the deal could not be learned.

Today's reports follows recent speculation of a tie-up of the two pushed by activist hedge fund Starboard Value. In December, Starboard disclosed a greater than 5% stake in Stales and urged the two companies to combine. Starboard also owns a large stake in Office Depot, which it had before its merger with OfficeMax.

A recent analyst report from Deutsche Bank's Mike Baker speculated that if Staples were to buy Office Depot its stock would be worth about $22 per share.

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