Staples Makes Bid for Corporate Express

Filed Under (OP News & Views, The Competition) by Don on 19-02-2008

After several weeks of speculation it has been revealed that Staples has made a bid of €2.5 billion or over $3.6 billion U.S. dollars for Corporate Express. Of course CorpEx immediately released a statement stating “…this proposal significantly undervalues the company and fails to reflect Corporate Express’ prospects. We do not believe the proposal is in the best interests of our shareholders and other stakeholders. We therefore reject this proposal and reiterate our commitment to pursuing our declared strategy”.

Strategy they said? Good grief if anyone can tell me just what their ’strategy’ has been for the past five years I’d love to hear it! They (CorpEx) have reorganized and changed strategy plans more times than I can count and none of them ever made any common sense. It was mostly corporate blabbering. It will be interesting to see what the coming weeks offer in the bid for CorpEx.

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