CE recommends all-cash offer of €9.25 per ordinary share by Staples

As the above title suggests, discussions between CE and Staples have been succesful. In this news release CE informs us that they recommend shareholders to accept the increased offer of EUR 9.25 per ordinary share. The increased offer was possible because Staples purchased ordinary shares at the increased price in a transaction, other than an ordinary market transaction. Under Dutch takeover rules this increased price must apply to all other shareholders as well. Peter Ventress will become President of Staples International, to oversee Staples’ business outside of the United States and Canada and will play a key part in managing the integration of the two businesses going forward. He will report to Ron Sargent, Staples’ Chairman and CEO. You can also read the news release by Staples. (end of post)