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Staples boosts bid for firm

June 04, 2008|From Times Wire Services

Staples Inc. raised its hostile bid for Corporate Express after the Dutch company's surprise bid for another office products supplier would create a viable global competitor.

At $2.6 billion, the new offer from Staples is 14% higher than its previous bid. Analysts say the new price will prove more enticing to shareholders of Corporate Express than the Amsterdam company's proposed buyout of Lyreco Group in France.

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