Staples, Corporate Express merger approved

FRAMINGHAM, Mass. Staples reported that Corporate Express' supervisory board and executive board have accepted its offer to buy Corporate Express for approximately EUR 3.1 billion (USD 3.69 billion).

“We have tremendous respect for Corporate Express, and we know they share our passion for outstanding customer service,” said Ron Sargent, Staples’ chairman and ceo. “Bringing together these two great companies is a win for customers, employees and shareholders, and I look forward to working with [Corporate Express' ceo] and his team.” 

After settlement of the Offer, Peter Ventress will become president of Staples International, a new position that will oversee Staples’ business outside of the U.S. and Canada, and will report to Ron Sargent. He will play a key part in managing the integration of the two companies going forward.

Corporate Express has terminated its merger agreement with Lyreco.