USA
Another Essendant extension announced
December 20, 2018
Staples, Inc. and Essendant Inc. have announced that affiliates of Staples have once again extended the expiration time of the previously announced tender offer for all outstanding shares of Essendant’s common stock. The offer now runs until 6:00pm (New York City time) on December 26, 2018 (Boxing Day) unless extended further in accordance with the Agreement […]
“Fallen angel” Xerox downgraded
December 19, 2018
The OEM has been downgraded from investment grade to junk by Moody’s Investors Service, following a similar move by Fitch Ratings in August. According to Fortune, Moody’s cited “an uncertain revenue base” as one of its key reasons, as well as a “decline in demand for copy and printing services.” Global competition, described as “intense”, […]
