Staples Inc. has rejected a takeover offer from Cerberus Capital Management as too low, leaving Sycamore Partners in the running to acquire the office-supplies retailer, according to people familiar with the matter.
The Framingham, Massachusetts-based chain this week turned down the
bid from Cerberus, which valued the company at more than its current
market value of about $5.8 billion, said the people, who asked not to be
identified because talks are private.. . . more