Staples Inc. stockholders yesterday overwhelmingly approved the proposed $6.9 billion sale of the nation’s No. 1 office supplies chain to New York private equity firm Sycamore Partners, but rejected “golden parachute” compensation for top Staples executives.
The vote on
the leveraged buyout by Sycamore, which specializes in retail and
consumer investments, was the last hurdle that had to be cleared before
closure of the deal, which is expected by the end of October.. . . more