FRAMINGHAM, Mass.--(BUSINESS WIRE)--April 1, 2008--Staples, Inc.
(Nasdaq: SPLS) today announced that it has obtained financing for its
planned public offer (the "Offer") for Corporate Express N.V. Staples
has entered into a definitive $3 billion credit agreement (the "Credit
Agreement") with financing arranged by Lehman Brothers Inc., Bank of
America and HSBC Bank USA. This $3 billion financing, together with
its cash reserves and existing revolving credit facility, are
sufficient to finance Staples' acquisition of Corporate Express and
enable Staples to proceed with its previously announced public offer
for all the outstanding ordinary shares and American depositary shares
("ADS") issued by Corporate Express for a price of EUR 7.25 per
ordinary share and ADS.
This announcement is made pursuant to the provisions of Section 7
paragraph 4 of the Dutch Decree on Public Takeover Bids (Besluit
openbare biedingen Wft, the "Decree"). With reference to Section 7
paragraph 4 of the Decree, Staples herewith confirms that it will
finance acceptances under the Offer through a combination of the
Credit Agreement, cash reserves and available credit under its
existing revolving credit facility. There are no conditions precedent
to funding, other than customary conditions set forth in the Credit
Agreement. Staples has no reason to believe that these conditions
precedent under the Credit Agreement will not be satisfied on or prior
to closing of the Offer.
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 $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 7 paragraph 4 of the Dutch Decree on Public Takeover Bids
(Besluit openbare biedingen Wft). This announcement and related
information 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. If and when made, the Offer and the terms thereof
will be made through and described in an Offer Memorandum to be
published in accordance with Dutch and U.S. laws. 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 there can be no assurance that Staples will
commence any public offer for the acquisition of Corporate Express,
N.V., that such offer, if commenced, 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.
CONTACT: Staples, Inc.
Media Contact:
Paul Capelli or Owen Davis, 508-253-8530/8468
or
Investor Contact:
Laurel Lefebvre, 508-253-4080
SOURCE: Staples, Inc.
