2008drama schreef:
[quote=marathon 11]
[quote=romon]
Staples Confirms Its Intention to Acquire Corporate Express for Euro 7.25 Per Ordinary Share
Tuesday March 18, 12:55 pm ET
FRAMINGHAM, Mass.--(BUSINESS WIRE)--As first announced on Feb. 19, 2008, Staples, Inc. (Nasdaq: SPLS - News) confirms its current intention to make a public offer for all the outstanding ordinary shares and American depositary shares (“ADS”) issued by Corporate Express (the “Offer”) for a price of EUR 7.25 per ordinary share and ADS and confirms that preparations are well under way for the Offer. In addition, in connection with the Offer, Staples also confirms its intention to make a public offer for the depositary receipts of preference shares A and the convertible bonds.
As initially announced, the proposed offer implies:
a premium of approximately 67 percent to Corporate Express’ closing share price on Feb. 4, 2008, the last day before rumors of a potential offer for Corporate Express circulated in the market,
a premium of approximately 33 percent to Corporate Express’ closing share price on Feb. 18, 2008, the day before the initial press release, and
a premium of approximately 60 percent to Corporate Express’ average closing price during the one-month period ended on Feb. 18, 2008, and a premium of approximately 43 percent to Corporate Express’ average closing price during the three-month period then ended.
“While we continue to be disappointed that Corporate Express’ Executive and Supervisory Boards have not entered into a negotiation with us about the transaction, we remain very enthusiastic about a combination between the two companies,” said Ron Sargent, Staples chairman and CEO. “Based on public information, Staples firmly believes its proposal is the most valuable option available to Corporate Express' shareholders and will deliver significant benefits for customers and employees."
Staples expects to submit a request for approval of the offer memorandum in respect of the Offer (the “Offer Memorandum”) to the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten or "AFM") before May 13, 2008, which is the date by which under Dutch law a request for approval must be submitted to the AFM. In addition, Staples plans to make all necessary competition regulatory filings prior to May 13, 2008.
Since the announcement on Feb. 19, 2008, the company’s financing plans have progressed. Specifically, the previously announced bridge loan commitment from Lehman Brothers Inc. is now equally shared by Lehman Brothers Inc., Bank of America, N.A. and HSBC Bank USA, N.A. Upon completion of final credit documentation, this financing, together with existing cash and liquidity, will provide Staples with funding sufficient to satisfy its obligations under the Offer
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Met dank aan de onnozele nederlandse analisten.
Hoop dat Ventress nou eens eindelijk iets van zich laat horen waar we allemaal mee uit de voeten kunnen. Sluit ook niet uit dat Q1 resultaten nu nog meer dan hiervoor erg cruciaal en bepalend voor de strategie van CE zijn.
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Eerste kwartaal is goed, anders bluft Ventress toch niet. Anders gaat hij over anderhalve maand op zijn bek.
Ook worden er weer sales aangenomen kijk bij vacatures Michael Page, is ook een tijd niet zo geweest. Kortom er is weer geld.
Raar maar waar als het slecht gaat wordt heet eerste op marketing bespaart. Als het beter gaat zijn dat weer de eerste die er bij komen.