Staples Declares the Offer for all Outstanding Securities Unconditional

As expected, Staples today declared the offer for all outstanding securities unconditional, and shareholders can expect payment by July 9th for their tendered securities. Staples also decided to provide for a post-acceptance period until July 16th, with settlement on July 23rd (which is effectively after 5 business days). Since this proposition is as close as it will get to a riskless investment, investors with cash available could consider buying shares and tendering them immediately. Assuming a price of EUR 9.17, which was the close of today in Amsterdam, return would be almost 0.9% for a holding period of only 3 weeks, which is about 16% annualized. Compared to the 1-month EURIBOR rate of about 4.4%, this is not bad at all. (end of post)