Peter Ventres confirmed in the Q&A session of the press conference that a break up fee of EUR 30 million will have to be paid to Lyreco. Mr. Ventress also mentioned that they decided to agree with the deal only last night when Staples agreed to the higher price of EUR 9.25 when they purchased shares outside the regular market. Mr. Ventress refused to disclose who the sellers of the 1.1% of shares were, and stated that this was a question for Staples. Mr. Ventres is very happy and excited about his offer to the new position of president of Staples International, reporting directly to Ron Sargent. (end of post)
woensdag 11 juni 2008
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Is the European Commission likely to approve the deal?
I would be very surprised if there is a problem with the European Commission. We will find out by June 17th.
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