CIO

Corporate Express delisted after buyout

Computer and office product distributor Corporate Express Australia (ASX:CXP) has been delisted from the ASX following a compulsory acquisition by Staples Australia.

Staples commenced a compulsory acquisition of Corporate Express shares in July, after acquiring 98.5% of Corporate Express shares for $4.86 per share.

The offer, being $5.60 per share minus a special dividend paid out by Corporate Express, valued the company at $1.1 billion on an enterprise value basis.