That Was Easy

So, Staples has finally, and predictably, won its battle to buy Corporate Express. Today, Staples increased its offer from €9.15 per share to €9.25 per share. It's first offer back in February was €7.25 per share. Peter Ventress and his team at CXP have clearly done a good job of extracting a good offer for their shareholders. At the same time, he has helped create an office products monster, with a combined turnover of some $27bn, bigger than Office Depot and OfficeMax combined. Lyreco, meanwhile, has received a 'break-up fee' of some €30mn as a reward for trying, and failing, to merge with Corporate Express.