Corporate Express reports slower sales growth in Europe

04/8/2008 | Reuters

Analysts say Staples Inc. is unlikely to increase its $3.9 billion bid for Corporate Express after the Dutch office goods distributor reported disappointing Q1 organic sales growth for its European operations. Sales in Europe rose 3%, versus 6% in the year-ago period. Despite the weaker numbers, CEO Peter Ventress reiterated that Staples' offer "significantly undervalues the business."

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