Staples settles offer for Corporate Express

By Lisa Kerner

Charlotte, N.C., July 9 - Staples, Inc. subsidiary Staples Acquisition BV settled its offer for all of Corporate Express NV's issued and outstanding ordinary shares, American Depositary Shares, depositary receipts for preference A shares and 2% subordinated convertible bonds due 2010.

Corporate Express shareholders and bondholders who have not yet accepted the offer may still tender their shares and bonds until July 16, a Staples news release said.

Staples Acquisition and Corporate Express will terminate the listing of the ordinary shares and preference A shares on Euronext Amsterdam and ADSs on the New York Stock Exchange.

The last day of trading of ADSs on the NYSE will be on or about July 18, and the last day of trading of the ordinary shares and preference A shares on Euronext will be Aug. 6, according to the release.

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.

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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