Deals
Starboard Adds Pressure on Staples, Office Depot to Merge
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Starboard Value, the activist investor with stakes in both Staples Inc. and Office Depot Inc., is ratcheting up pressure on the office-supply rivals to merge.
The investment firm sent a letter to Staples Chief Executive Officer Ronald Sargent Tuesday demanding that his company engage advisers to begin work on a deal. The move represents Starboard’s most public push for such a transaction following behind-the-scenes prodding.