Staples Inc. has bought a 12.3% stake in Corporate Express. The move is the latest in Staples’ bid to take over the global office supplies distributor.
Corporate Express announced June 5 it would meet with Staples to discuss the company’s increased offer of €9.15 per share for the distributor (roughly US$2.5 billion total). The bid follows previous offers, which were rejected by Corporate Express earlier this year.
Staples’ offer is contingent on Corporate Express shareholders’ rejection of a planned merger between Corporate Express and European office supplies distributor Lyreco SAS. The transaction was announced on May 21. According to a recent news release, the merger with Lyreco would create a €7.8 billion B2B player in Europe, North America and …
Staples Moves to Buy Corporate Express
Staples Inc. has bought a 12.3% stake in Corporate Express. The move is the latest in Staples’ bid to take over the global office supplies distributor.
Corporate Express announced June 5 it would meet with Staples to discuss the company’s increased offer of €9.15 per share for the distributor (roughly US$2.5 billion total). The bid follows previous offers, which were rejected by Corporate Express earlier this year.
Staples’ offer is contingent on Corporate Express shareholders’ rejection of a planned merger between Corporate Express and European office supplies distributor Lyreco SAS. The transaction was announced on May 21. According to a recent news release, the merger with Lyreco would create a €7.8 billion B2B player in Europe, North America and …
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