-- Staples purchased 22,435,115 Corporate Express ordinary shares or 12.3 percent of Corporate Express' ordinary shares outstanding at a price of EUR 9.15 per share -- Purchase agreements contain an authorization from the selling shareholder to Staples to exercise the votes against the Lyreco transaction during Corporate Express' EGM on 18 June 2008FRAMINGHAM, Mass., Jun 04, 2008 (BUSINESS WIRE) -- Staples, Inc.'s (Nasdaq: SPLS) wholly owned subsidiary Staples
Acquisition B.V. today announced it entered into agreements to
purchase a total of 22,435,115 ordinary shares in Corporate Express,
representing 12.3 percent of Corporate Express' outstanding ordinary
share capital, at a price of EUR 9.15 per share.
The selling shareholders, who owned the shares on the record date
of 29 May 2008 for Corporate Express' extraordinary shareholders
meeting scheduled for 18 June 2008 (the "EGM"), have granted Staples
Acquisition B.V. the power of attorney to cast the votes against the
Lyreco transaction during the EGM.
As a result of the transactions referred to above, the total
number of ordinary shares in the capital of Corporate Express
currently either owned by Staples Acquisition B.V. or subject to the
irrevocable undertakings announced on 3 June 2008 represents 35.6
percent of the outstanding ordinary share capital of Corporate
Express.
About Staples
Staples, Inc. invented the office superstore concept in 1986 and
today is the world's largest office products company. With 76,000
talented associates, the company is committed to making it easy to buy
a wide range of office products, including supplies, technology,
furniture, and business services. With 2007 sales of USD 19.4 billion,
Staples serves consumers and businesses ranging from home-based
businesses to Fortune 500 companies in 22 countries throughout North
and South America, Europe and Asia. Headquartered outside of Boston,
Staples operates more than 2,000 office superstores and also serves
its customers through mail order catalog, e-commerce and contract
businesses. More information is available at www.staples.com.
This is a public announcement pursuant to the provisions of
section 13, paragraph 2 of the Dutch Decree on Public Takeover Bids
(Besluit openbare biedingen Wft). Staples Acquisition B.V. expressly
reserves any and all rights it has in respect of the Offer, as
described in the Offer Memorandum, including the right to invoke or
waive any of the conditions to the Offer set out in section 6.5
thereof. This announcement shall not constitute a public offer to sell
or the solicitation of an offer to buy any securities, nor shall there
be any sale in securities. Except as expressly stated in this press
release, the Offer is made through and is subject to the terms and
conditions as set out in the Offer Memorandum. Other than the
information contained in the Offer Memorandum Staples Acquisition B.V.
did not disclose to the shareholders selling their Corporate Express
shares any material information regarding the Offer which would be
relevant for securityholders when considering to tender their
securities in the Offer. Not for release, publication or distribution,
in whole or in part, in or into Canada or Japan.
Certain information contained in this news release may constitute
forward-looking statements for purposes of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995, including but
not limited to the statements as to Staples' intentions with respect
to the Offer to acquire Corporate Express. Actual future events may
differ materially from those indicated by such forward-looking
statements as a result of risks and uncertainties, including but not
limited to the fact that the Offer made by Staples or any other
acquisition of Corporate Express will be consummated and those other
factors discussed or referenced in our most recent annual report on
Form 10-K filed with the SEC, under the heading "Risk Factors" and
elsewhere, and any subsequent periodic reports filed by us with the
SEC. In addition, any forward-looking statements represent our
estimates only as of today and should not be relied upon as
representing our estimates as of any subsequent date. While we may
elect to update forward-looking statements at some point in the
future, we specifically disclaim any obligation to do so, even if our
estimates change.
SOURCE: Staples, Inc.
Staples
Media Contact
Owen Davis, 508-253-8468
or
Investor Contact
Laurel Lefebvre, 508-253-4080
