Staples is reportedly in talks to sell itself and its shares are spiking

Staples is in talks with private-equity bidders to sell itself, according to The Wall Street Journal.

The talks are reportedly happening after the company scrapped a merger with Office Depot in May 2016 that would have given it more muscle to compete with online retailers.

A federal judge had ordered the deal to be temporarily halted on antitrust concerns. The decision was hailed by the Federal Trade Commission, which preferred that both companies remain competitors.

Staples shares jumped by as much as 12% in trading after the news.

Markets Insider