The announcement concludes a rapprochement that began when Corporate
Express June 5 agreed to talks with its previously hostile suitor.
During those discussions, Framingham, Mass.-based Staples further
sweetened its offer to €9.25 a share, or €1.68 billion in total, from
€9.15. The agreed offer is 28% above Staples' initial bid in February.
The deal was conditional on Corporate Express abandoning its planned
€1.73 billion acquisition of closely held French rival Lyreco SA.
Corporate Express has terminated that merger agreement. - Renee Cordes
