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Corporate Express rejects higher Staples bid

Three months after its initial offer, Staples Inc. said Tuesday it was raising its all-cash bid for Corporate Express NV by 10%. The Dutch company said it would "carefully consider" Staples' new proposal, which valued Corporate Express at $2.26 billion, but shortly thereafter rejected the hostile bid, saying it "still significantly undervalues" the company. Wall Street Journal, The (05/14)