|Staples' Offer for Corporate Express Obtains Regulatory Clearance in the European Union|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--June 17, 2008--Staples, Inc. (Nasdaq: SPLS) announced today that it has obtained clearance from the European Commission with respect to its outstanding offer for Corporate Express N.V. The Commission's decision to not oppose the transaction constitutes the final regulatory clearance requirement for the offer and satisfies the regulatory condition provided in Staples Acquisition B.V.'s Offer Memorandum published on May 19, 2008, as amended. Staples previously announced that it had also received regulatory clearance in the United States and Canada.
The acceptance period for tendering ordinary shares, including ordinary shares represented by ADS's, depositary receipts of preference shares A and the two percent Subordinated Convertible Bonds due 2010, ends on Friday, June 27, 2008, at 17.30 hours CET (11.30 hours EDT), subject to extension in accordance with Section 15 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft).
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 Article 4, paragraph 3 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft). Staples and Staples Acquisition B.V. expressly reserve 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 and not previously satisfied. Except as expressly stated in the press releases of June 3, 2008 and June 11, 2008, the Offer is made through and is subject to the terms and conditions as set out in the Offer Memorandum.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. 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, 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.