By Benjamin Horney (May 25, 2017, 7:58 PM EDT) -- Staples Inc. said no to a takeover offer lodged by New York private equity firm Cerberus Capital Management LP, Bloomberg reported Thursday. Sycamore Partners, the other firm that earlier this month was named as being a front-runner to buy Massachusetts-based Staples, is still in the running, according to the report. The Cerberus bid apparently valued Staples at more than $5.8 billion. It is still possible that Cerberus and other interested suitors, which include Clayton Dubilier & Rice LLC, Advent International Corp. and Bain Capital LLC, could be brought back into the mix, the report noted. Rumors that Staples might be up for grabs date back to early April, when reports said it was seeking ways to reduce "market pressure" that has persisted since the office supplies retailer's failed merger with Office Depot Inc. in 2015....
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