Corporate Express NV notes Staples’ press release today in which it repeats its unsolicited proposal, first announced on 19 February, to acquire Corporate Express for EUR 7.25 per share.
As stated in Corporate Express’ press release of 19 February, Corporate Express is of the opinion that Staples’ proposed offer price significantly undervalues the company and fails to reflect Corporate Express’ prospects. Corporate Express does not believe Staples' proposal is in the best interests of its shareholders and other stakeholders. The company therefore rejects the proposal and reiterates its commitment to pursuing its declared strategy.