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Staples, Inc. and office supplies distributor Essendant Inc. (NASDAQ: ESND) said the companies have successfully completed the previously announced tender offer by Staples’ affiliates to acquire all outstanding shares of Essendant common stock for $12.80 per share.
The companies made the announcement Thursday, January 31, and said they expected the merger to be completed the same day. Essendant will become a wholly owned subsidiary of Staples' affiliate, Egg Parent Inc., and Essendant common stock will cease trading on Nasdaq, the company said.