Staples offers post-acceptance period for Corporate Express securities

By Lisa Kerner

Charlotte, N.C., July 2 - Staples, Inc. provided a post-acceptance period for holders of Corporate Express NV securities to tender their securities in the company's tender offer after it ended on June 27.

The post-acceptance period, customary in the Netherlands, begins July 3 and ends July 16, according to a Staples news release. Securities tendered during the period will immediately be accepted and may not be withdrawn.

Staples expects to settle the original tender offer on July 9.

As previously reported, the following securities have been tendered for acceptance under the original offer:

• 152,495,551 ordinary shares with a nominal value of €1.20 each, including ordinary shares represented by American Depositary Shares;

• 53,144,811 preference shares A with a nominal value of €1.20 each; and

• €146.51 million principal amount of 2% subordinated convertibles.

On June 11, Corporate Express, an Amsterdam office supply company, 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.

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