U.S. office products retailer Staples Inc (SPLS.O) has offered to buy out minority shareholders of Corporate Express Australia (CXP.AX) for A$390 million, in a deal long-awaited since Staples took over the group's Dutch parent.
Staples is offering A$5.60 a share, a 22 percent premium to Corporate Express Australia's last trade, for the 41.4 percent of the group it does not already own. Its board has unanimously recommended the offer.
Shareholders will also receive the A$0.125 dividend that Corporate Express Australia announced this month.
Subject to tax office approval, Corporate Express Australia is also proposing paying a special dividend of up to A$0.78 a share. However, if the special dividend goes ahead, it will be subtracted from the price that Staples pays, the company said.
Staples, the world's largest office products company, is being advised by Barclays Capital. Corporate Express Australia is being advised by KPMG Corporate Finance.
Fonte: Reuters (Reporting by Sonali Paul; editing by Balazs Koranyi)
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