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Retailers, consumers and prices

Check Out Line: Staples offers more for Corporate Express

June 3, 2008

corpexpress1.jpgCheck out Staples’ higher offer for Corporate Express.

The U.S. office supplies retailer offered to buy the Dutch company for $2.65 billion – up from its previous unsolicited offer of about $2.34 billion — even as Corporate Express is trying to fight off the takeover bid with a bid of its own.

The Dutch company said in May that it would buy French rival Lyreco for about $2.2 billion, creating the largest business-to-business distributor of office supplies in Europe, North America and Asia Pacific.

On Tuesday, Staples raised its offer, contingent on Corporate Express shareholders rejecting the Lyreco bid. Corporate Express said it would carefully review Staples’ offer and respond in due course.

Analysts think the U.S. retailer’s bid might bear fruit this time around, although Corporate Express could still try to delay it.

Also in the basket:

Anheuser-Busch hires financial advisers

U.S. chain store sales fall 0.8 percent last week – ICSC offers free classified ads

(Photo: Reuters)

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