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Good Day, Bad Day
Persistence, keeping the maiden name
 

GOOD DAY FOR: Persistence, after Staples again raised its bid for Dutch office-supply wholesaler Corporate Express, to $2.6 billion, following two rebuffed takeover attempts. Shareholders with 23.3 percent of Corporate Express stock have already agreed to sell to Staples. “The game is over,” said analyst Marcel Hooijmaijers at Landsbanki Kepler in Amsterdam. “This is a knock-out bid.” (Bloomberg)

BAD DAY FOR: Keeping the maiden name
, after FedEx said it will stop using the Kinko’s name on its struggling copy and office services stores, using the name FedEx Office instead. The name change will result in a charge of $891 million. FedEx, which bought Kinko’s in 2004, said the change will better utilized the FedEx brand. (Reuters)

 

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