Staples to complete acquisition of Corporate Express Australia

Framingham, Mass. A subsidiary of Staples now controls about 92% of the shares in Corporate Express Australia and the office supply chain said Monday that the acquisition would be completed later this summer.

In March, Staples Australia offered $5.60 per share, or more than $350 million, for outstanding shares of the company. At the time it had more than 58% of shares.

The closing for the offer is July 26 and the acquisition is expected to close within six weeks of that date.