Staples' Takeover Bid Rejected


	Staples' Takeover Bid Rejected

Tina Russo

2-20-2008 9:09 AM

926 views

tags:

staples, office supplies, corporate express, takeover

Tina Russo says:

Although Corporate Express took no time at all to reject Staples' hostile takeover offer, analysts think that the deal will eventually be completed. The deal would make Staples a major delivery player in Europe.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f5efe732-aa93-4f0d-89a1-19b250e6fa2a/CFFD47B9-4DAB-4165-9BE1-2FA85B2472D8/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/02/20/business/worldbusiness/20staples.html?ref=worldbusiness" href="http://www.nytimes.com/2008/02/20/business/worldbusiness/20staples.html?ref=worldbusiness" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/02/20/business/worldbusiness/20staples.html?ref=worldbusiness">Corporate Express swiftly rejected on Tuesday an unsolicited $3.67 billion buyout offer from Staples as too low, but some analysts expect the strategic advantages of combining the two office products suppliers will yield an eventual agreement.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/02/20/business/worldbusiness/20staples.html?ref=worldbusiness">Staples disclosed Tuesday it had offered to pay a hefty premium in an all-cash bid for Corporate Express, a proposal that sent the Netherlands-based wholesaler’s shares up nearly 39 percent in the United States. The acquisition would expand Staples’ profitable segments serving business customers and overseas clientele after recent slow sales at Staples’ American stores.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CFFD47B9-4DAB-4165-9BE1-2FA85B2472D8/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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