Starboard Said to Raise Stake in Office Depot, Build Stake in Staples

Activist investor Starboard Value has reportedly raised its stake in Office Depot, Inc.

to 10% from 8.6% and has built a roughly 6% stake in Staples, Inc.

, according to sources, as reported by the

on Wednesday. Filings for the transactions are expected to be released on Thursday. There has been unusual call activity in Staples over the past week, which can signal major events, including merger activity. Staples shares closed Wednesday at $14.81, a gain of 2.5%, while Office Depot shares rose 2.5% to close at $6.72.