Staples has this week been invited to enter talks with Corporate Express, after the US stationery retailer upped its offer for the Dutch business by 14 per cent.

Corporate Express said it is “carefully reviewing Staples’ increased offer of 9.15 per ordinary share” and will enter into talks “in order to receive further clarification and exchange information”.

The new offer appears likely to win shareholder support more than a proposal by Corporate Express to buy French business Lyreco for 1.7 billion (ÂŁ1.35 billion). Previously, Corporate Express had argued that its future would be best-served by remaining independent.

A deal would strengthen Staples’ business-to-business operations in the US – which account for half of Corporate Express’s sales – and give it greater scale in Europe. A takeover would also make strategic sense for the two companies, because it could lead to cost savings as both grapple with the slowing US economy.

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