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Baker & McKenzie and Corrs Chambers Westgarth are acting on Staples Inc's billion dollar takeover bid of Corporate Express Australia Limited.For Bakers partner Ben McLaughlin - who led the…
Baker & McKenzie and Corrs Chambers Westgarth are acting on Staples Inc's billion dollar takeover bid of Corporate Express Australia Limited.
"I have been advising corporate express since 1995, so I have been a close advisor to them for a long period," he told Lawyers Weekly.
"It's important to ensure that the shareholders in the company are all well served out of this transaction, so that is my main focus at the moment."
The takeover bid is expected to be kick-started in early April when Staples - being advised by a Corrs team including Braddon Jolley, Byron Koster, James Rosza, Jaclyn Riley-Smith, Nicole Graham and Clare Dunne - will send out an offer to shareholders for an off-market takeover.
An independent expert will then prepare a report in mid-April to determine whether the offer is "fair and reasonable" for the shareholders. Then in late April, it is expected that Corporate Express will issue a target company statement deciding whether or not to accept the offer.
Staples already has a 60 per cent stake in the company and the takeover is subject to an increase to 90 per cent minimum acceptance.
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