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Staples buy of Corporate Express gets Europe OK

AP ONLINE
Posted: 2008-06-17 18:03:00

FRAMINGHAM, Mass. (AP) _ Office-supply retailer Staples Inc. on Tuesday said its proposed $2.7 billion acquisition of Dutch office supply company Corporate Express NV was cleared by the European Commission.

The transaction has already received regulatory clearance in the U.S. and Canada.

The acceptance period for tendering ordinary shares ends June 27.

Corporate Express agreed to the deal last week. Staples enticed Corporate Express by raising its offer three times after its original Feb. 19 cash bid.

Staples shares fell 50 cents, or 2 percent, to close at $25.11.



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