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Staples secures 84% of Corporate Express

Staples secures 84% of Corporate Express

Staples Australia has received 84% acceptance of its takeover offer for computer and office equipment distributor Corporate Express Australia (ASX:CXP).

Corporate Express has now declared a special dividend of 74 cents per share in connection with the offer, to be funded by Staples, and announced that it plans to make the offer unconditional on or before July 9.

The dividend will be recorded on July 7 and paid out on July 16.

The takeover offer price of $5.60 per Corporate Express share will accordingly be lowered by the amount of the dividend.

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Tags dividendsCorporate ExpressStaples AustraliaMergers and acquisitions

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