Staples, Essendant announce extension of tender offer for shares of Essendant
Staples and Essendant announced that, pursuant to the Merger Agreement, Egg Merger Sub and Egg Parent, affiliates of Staples, have extended the expiration time of the previously announced tender offer for all outstanding shares of Essendant's common stock to 6:00 p.m., New York City time, on January 16, 2019, unless the tender offer is further extended in accordance with the Agreement and Plan of Merger, dated as of September 14, 2018, by and among Essendant, Staples, Egg Parent and Egg Merger Sub. The tender offer was previously scheduled to expire at 6:00 p.m., New York City time, on January 9, 2019. The tender offer is being made pursuant to the Merger Agreement. Egg Merger Sub and Egg Parent expect the tender offer will be consummated promptly following the expiration time, subject to the satisfaction of the remaining closing conditions. The tender offer has been extended to allow additional time for the condition relating to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 to be satisfied. The parties expect the merger to close in early 2019.