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Staples integrates acquisition, blames results on weak economy (from Corporate Dealmaker)

Staples said challenging economic conditions made it report weaker-than-expected earnings. Its banking on synergies from its $4.8 billion acquisition of Corporate Express. Also, OfficeMax shares tanked Wednesday as its CFO Don Civgin abruptly quit to take up the same post at insurer Allstate Corp. They'll be hiring soon.

Posted on August 20, 2008 4:22 PM

Synergies, integration for Corporate Express-Staples (from Corporate Dealmaker)

Corporate Express NV finally agreed to be acquired by office supplies retailer Staples Inc. for €3.1 billion ($4.8 billion), abandoning its $2.7 billion bid for French peer Lyreco SA. The deal establishes a contract-based business-customer arm for Framingham, Mass.-based Staples in Europe and Canada, and extends the company's reach...

Posted on June 11, 2008 4:25 PM