Staples Seen Reversing Romney Deal After Record Value: Real M&A

Staples Inc., the office-supplies retailer that Mitt Romney’s Bain Capital LLC helped take public more than two decades ago, is now offering private-equity buyers a bargain that will be tough to pass up.

After falling to a record low valuation in August, the company now has an enterprise value that’s 4.5 times earnings before interest, taxes, depreciation and amortization, still cheaper than 93 percent of similar-sized U.S. specialty retailers, according to data compiled by Bloomberg. At 14.8 percent, Staples’s free cash flow yield is higher than 65 of 67 peers, the data show.