Starboard Buys Staples Stake, Fueling Deal Speculation
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Starboard Value, the activist investor that successfully pushed for the merger of Office Depot Inc. and OfficeMax Inc. last year, is making another run at the office-supply industry.
The investment firm disclosed a 5.1 percent stake in Staples Inc. today and increased its holding in Office Depot to 9.9 percent, a move that could add pressure on the two retailers to merge. The announcement sent shares of both companies surging, with Office Depot climbing as much as 13 percent.