Staples ups offer price for Corporate Express preference shares A

By Lisa Kerner

Charlotte, N.C., June 25 - Staples, Inc. increased its cash offer price for the preference shares A of Corporate Express NV to €3.60 each.

According to Staples, the preference A shares have a nominal value of €1.20 each.

Staples expects the price increase to be attractive to remaining holders of the preference shares A, a company news release stated.

On June 11, Corporate Express announced it approved Staples' latest offer to acquire the company for €9.25 per ordinary share, or €3.1 billion.

The acceptance period for tendering ordinary shares - including ordinary shares represented by American Depositary Shares, depositary receipts of preference shares A and the 2% subordinated convertible bonds due 2010 - ends Friday at 11:30 a.m. ET, it was previously reported.

Staples is an office superstore based in Framingham, Mass.

Corporate Express is a business-to-business office supply company based in Amsterdam.

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