Corporate Express ‘neutral’ on Staples bid

Corporate Express will open its books to US peer Staples very soon, sources tell Wednesday’s Financieele Dagblad.

On Tuesday, Staples increased its offer for the Dutch company from €8 to €9.15 a share, a move which some analysts said made a takeover inevitable. Corporate Express rejected the earlier offer, saying it significantly undervalued the company.
Now, sources tell the paper, the company plans to take a ‘neutral’ stand. Staples says three investment groups have already agreed to tender their shares – a total of 23%.

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