Staples raises bid for Corporate Express to $2.6B

AMSTERDAM, Netherlands - Staples Inc. boosted its offer for competitior Corporate Express NV.

Staples, the Framingham-based office supplies retailer, is now offering $2.6 billion in its hostile bid for the Dutch office supplies company. The previous bid was $2.47 billion.

Corporate Express management has twice rejected prior bids by Staples.

Staples last month pitched its second offer directly to shareholders, complaining that Corporate Express management was not willing to negotiate.

Rather than accepting two previous overtures from Staples, Corporate Express last month struck a surprise deal to buy a French competitor, Lyreco SAS, which would create an international competitor to Staples.

Corporate Express shares are now worth more than twice what they were when rumors of a Staples bid began circulating in February. (AP)