Markets

U.S. open in 6 hrs, 56 mins

DJIA

9,447.11

-508.39

5.11%

NASDAQ

1,754.88

-108.08

5.80%

S&P 500

996.23

-60.66

5.74%

10yr Note

104.094

-0.375

0.36%

FTSE 100

4,605.22

16.03

0.35%

Nikkei 225

10,011.64

-461.45

4.41%

Hang Seng

16,803.76

0.00

0.00%

Euro (in USD)

1.361

0.012

0.89%

Yen (per USD)

100.39

-1.09

1.07%

Oil

90.06

2.25

2.56%

Gold

882.00

15.80

1.82%

BUSINESS NEWS

INVESTING

PERSONAL FINANCE AT WALLETPOP

SMALL BUSINESS

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.