Home » Corporate Express to Recommend Sale to Staples
Corporate Express to Recommend Sale to Staples
June 12, 2008
Corporate Express NV, supplier of office products, will recommend to its shareholders they accept an increased cash offer from Staples Inc. to buy the company. Staples has offered €9.25 a share, compared with previous offers of €7.25 and €8.00. At current exchange rates, the offer values Corporate Express at about US$4.8 billion.
Together, the companies -one primarily a distributor and the other a retailer -will serve customers in 28 countries and have annual revenues about more than €18 billion (US$27 billion).