Staples in 2.5 bln euro offer for Corp. Express

AMSTERDAM Tue Feb 19, 2008 8:43am EST

Related Topics

AMSTERDAM Feb 19 (Reuters) - U.S. office goods supplier Staples proposed a 7.25 euros per share offer for Dutch peer Corporate Express CXP.AS on Tuesday, valuing the company at around 2.5 billion euros ($3.68 billion).

Staples added its all cash offer represented a premium of around 67 percent to Corporate Express' closing price of Feb. 4. Shares in Corporate Express jumped 33 percent on the news.

Corporate Express, one of the world's largest office products wholesalers, has been under pressure from hedge funds to put itself up for sale and rumours of interest from Staples have surfaced frequently.

(Reporting by Alexandra Hudson)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.