Staples Settles Offer For All Outstanding Shares Of Corporate Express NV

Jul 10, 2008 (financialwire.net via COMTEX) -- SPLS | Quote | Chart | News | PowerRating -- July 10, 2008 (FinancialWire) Staples Inc. (NASDAQ: SPLS | Quote | Chart | News | PowerRating) has settled its offer for all outstanding shares of Netherlands-based Corporate Express NV and its two percent convertible bonds.

Corporate Express agreed to the $2.7 billion acquisition deal on June 11. The companies said Corporate Express shareholders and bondholders may still tender their shares and bonds until next Wednesday.

After that date, Staples plans to start legal proceedings to acquire all Corporate Express issued and outstanding share capital.

Staples shares fell 49 cents, or 2.2 percent, to finish at $22.12 Wednesday.

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