|
|
Corporate Express accepts Staples offer
Summary from United States, from articles in English
|
The acquisition, which will be Staples largest ever, will shift the Framingham-based company's business mix from primarily selling products to individuals and small businesses to delivering to large corporate customers - an area Corporate Express dominates. (article 1)
NEW YORK- Office-supply retailer Staples Inc.'s acquisition of Dutch office supply retailer Corporate Express will put its North American delivery business on par with the size of its retail business, an executive said on Wednesday. (article 4)
Early Wednesday, Staples said Corporate Express NV accepted its buyout offer of about $2.7 billion a bid which the Framingham, Mass.-based company raised three times in a dogged effort to seal the deal. (article 4)
Staples North American retail business now has about $10 billion in sales annually, and its North American delivery business which includes contracts with businesses as well as catalog and web site orders now has about $6.6 billion in sales. (article 4)
The Dutch company had previously rejected Staples' offers of €7.25 and €8.00 per share as significantly undervaluing the company but last week said it would "carefully review" an offer of €9.15. (article 3)
The Dutch company has significant operations in the US but has struggled to perform for some years while Staples lacks scale in Europe. (article 3)
|
Other summaries about this story:
Event tracking:
Story keywords
|
Express, Staples, Corporate, Pony, € |
Source articles
- Staples' lengthy courtship pays off (boston.com, 06/12/2008, 578 words)
- Corporate Express accepts Staples offer (L.A. Times, 06/12/2008, 246 words)
- Corporate Express yields to Staples (ft.com, 06/11/2008, 431 words)
- Staples acquisition boosts delivery business (boston.com, 06/11/2008, 281 words)
- THE PONY EXPRESS (NY Post, 06/12/2008, 740 words)
|
|
blaster@cs.columbia.edu
|
