Office supplies giant Staples isn’t giving up on
acquiring rival Corporate Express. On 19th May the
cataloguer/retailer, whose UK brands include Neat Ideas
Quill, offered approximately €2.8 billion,
or €10 per share, for Corporate Express, bringing the bid
directly to shareholders. Last week the Netherlands-based
Corporate Express rejected a bid from Staples of approximately
€1.5 billion, saying that it “significantly
undervalues” the company. According to US-based Staples,
its current bid “represents a premium of approximately 90
per cent to the closing price per ordinary share on 4 February
2008, the day before rumours of a potential offer for Corporate
Express circulated in the market”.
“Marks and Spencer ended a difficult year by
hitting £1bn in pretax profit – a return to earnings
achieved a decade ago – but current trading showed there was
little prospect of a repeat performance next year,” reports
the Financial Times.
Also from the Financial Times: “Bridgepoint has
bought back some of the debt the private equity house used to
leverage the buy-out of clothing retailer Fat Face, the
first such deal known to be completed in the UK.”
What is behavioural economics and how can knowledge of it
help you sell more? The Guardian explains.