|Staples, Inc. Acknowledges The Corporate Express N.V. Proposed Acquisition Of Lyreco SAS|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 21, 2008--In light of today's news about the proposed Corporate Express N.V. acquisition of Lyreco SAS, Staples, Inc.(Nasdaq: SPLS) and Staples Acquisition B.V. are considering all options.
Staples Acquisition reaffirms that its all cash offer of EUR 8.00 per ordinary share delivers certain, immediate and superior value to Corporate Express shareholders. Staples Acquisition's offer does so without the substantial execution and other risks inherent in Corporate Express' long-term plans, with or without the addition of Lyreco.
Staples Acquisition launched its tender offer on May 19, 2008. The acceptance period for the tender offer ends June 27, 2008.
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 4 paragraph 3 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft). 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. The offer by Staples Acquisition is made through and is subject to the terms and conditions as set out in the Offer Memorandum. 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.
CONTACT: Staples, Inc.