Staples, Office Depot in advanced talks to merge

Staples Inc. and Office Depot Inc. are in advanced talks to combine, according to people familiar with the matter, in what would be a major step toward consolidating the retail market for pens, paper and other office supplies.

The Wall Street Journal reports the unnamed sources would not disclose the price and structure of the proposed deal.

If the companies combine, they would have roughly 4,000 stores and annual sales of over $35 billion.

Read more from the Wall Street Journal.