CE denies Staples takeover rumours
February 2008 – Amsterdam, NetherlandsShares in Corporate Express rose
by around 40 percent at one point today after reports in the Dutch press
that Staples was in talks to buy the Netherlands-based contract
stationer.The share price fell back after Corporate Express denied the
rumours in a statement in which it “noted rumours in a Dutch morning
paper regarding ongoing discussions between Corporate Express and
Staples about a take-over and the subsequent market reaction” and
confirmed that “such discussions are not taking place”.This is the
second time in a matter of months that such rumours have surfaced, with
militant hedge fund shareholder Centaurus believed to favour a sell-off,
even though the company announced a stand-alone strategy in October
under new CEO Peter Ventress.The picture may become clearer after
Corporate Express’ annual results are announced on Thursday.
.
