Corporate Express rebuffs sweetened Staples bid
Corporate Express NV says a sweetened takeover bid from Staples Inc. is still too low.
Netherlands-based Corporate Express says its boards met today to consider the latest $2.47 billion offer from its rival office products supplier. Corporate Express says the bid continues to undervalue the company, even after Framingham-based Staples raised its offer by 10 percent earlier today.
Corporate Express had swiftly rejected Staples' initial usnolicited bid of 7.25 euros per share, made in February. Staples raised that to 8 euros per share today, and threatened to take its proposal directly to Corporate Express shareholders. Corporate Express responded this morning with a statement saying it was willing to talk with Staples. (AP)
For previous coverage of Staples' bid, please click here.
