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Essendant Inc (ESND.OQ)

ESND.OQ on NASDAQ Stock Exchange Global Select Market

12.71USD
16 Nov 2018
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Latest Key Developments (Source: Significant Developments)

Essendant Reports Third Quarter 2018 Results
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Essendant Inc ::ESSENDANT REPORTS THIRD QUARTER 2018 RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $0.14.Q3 LOSS PER SHARE $0.12.Q3 SALES FELL 1.2 PERCENT TO $1.3 BILLION.  Full Article

Staples And Essendant Announce Extension Of Tender Offer For All Outstanding Shares Of Essendant
Tuesday, 23 Oct 2018 

Oct 23 (Reuters) - Essendant Inc ::STAPLES AND ESSENDANT ANNOUNCE EXTENSION OF TENDER OFFER FOR ALL OUTSTANDING SHARES OF ESSENDANT.STAPLES INC - EXTENDED EXPIRATION TIME OF TENDER OFFER FOR ESSENDANT'S STOCK TO 5:00 P.M., NEW YORK CITY TIME, ON NOVEMBER 5, 2018.  Full Article

Pzena Investment Management - Believes Staples’ Proposal To Buy Essendant Not Superior To Genuine Parts' Unit SP Richards' Proposal
Thursday, 4 Oct 2018 

Oct 4 (Reuters) - Essendant Inc ::PZENA INVESTMENT MANAGEMENT-BELIEVES STAPLES’ PROPOSAL TO BUY ESSENDANT DOES NOT CONSTITUTE SUPERIOR OFFER TO GENUINE PARTS' UNIT SP RICHARDS' PROPOSAL.PZENA INVESTMENT MANAGEMENT SAYS TENDER OFFER FROM STAPLES AT $12.80 PER SHARE SIGNIFICANTLY UNDERVALUES ESSENDANT INC - SEC FILING.PZENA INVESTMENT MANAGEMENT SAYS IT BELIEVES ESSENDANT INC'S BOARD WALKED AWAY FROM FAR SUPERIOR AND COMPELLING OPPORTUNITY TO MERGE WITH SP RICHARDS.PZENA INVESTMENT MANAGEMENT SAYS IT DOES NOT INTEND TO TENDER SHARES IN THE OFFER FROM STAPLES.  Full Article

Essendant Acknowledges Receipt Of Letter From Staples
Wednesday, 5 Sep 2018 

Sept 5 (Reuters) - Essendant Inc ::ESSENDANT ACKNOWLEDGES RECEIPT OF LETTER FROM STAPLES.ESSENDANT - ACKNOWLEDGED RECEIPT OF LETTER FROM STAPLES, INCLUDING STAPLES' REITERATION OF ITS PROPOSAL TO ACQUIRE CO FOR $11.50 PER SHARE IN CASH.ESSENDANT - BOARD IN CONSULTATION WITH LEGAL, FINANCIAL ADVISORS IS REVIEWING LETTER, OTHER MATERIALS FILED BY STAPLES WITH SEC.ESSENDANT - BOARD HAS NOT CHANGED ITS RECOMMENDATION THAT CO'S SHAREHOLDERS VOTE IN FAVOR OF TRANSACTION WITH GENUINE PARTS COMPANY.  Full Article

Staples Received Commitment Letter For 100% Of Both ABL Facility Of $1.1 Bln And FILO Loan Facility Of $75 Mln
Wednesday, 8 Aug 2018 

Aug 8 (Reuters) - Essendant Inc ::STAPLES - ON AUG 7, RECEIVED COMMITMENT LETTER FOR 100% OF BOTH AN ABL FACILITY OF $1.1 BILLION AND A FILO LOAN FACILITY OF $75 MILLION.STAPLES - PROCEEDS OF FACILITIES, WITH AVAILABLE CASH, SUFFICIENT TO PAY PRICE CONTEMPLATED BY PROPOSAL TO ACQUIRE STOCK OF ESSENDANT NOT OWNED BY CO.STAPLES - INTENDS TO CONSUMMATE PROPOSED ESSENDANT DEAL WITH NEWLY FORMED UNRESTRICTED UNIT OR WITH NEWLY FORMED “SISTER” CO AS SUCCESSOR.  Full Article

Staples Says Delivered Letter To Essendant CEO And Board
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Essendant Inc ::STAPLES, INC SAYS ON JULY 31, STAPLES DELIVERED LETTER TO PRESIDENT AND CHIEF EXECUTIVE OFFICER AND BOARD OF DIRECTORS OF ESSENDANT - SEC FILING.STAPLES-REAFFIRMED INTEREST IN ENGAGING IN DISCUSSIONS WITH ESSENDANT'S BOARD REGARDING ITS PROPOSAL TO ACQUIRE ALL OF REMAINING COMMON STOCK OF ESSENDANT.STAPLES INC SAYS REAFFIRMS PROPOSAL TO ACQUIRE ESSENDANT FOR $11.50 PER SHARE IN CASH.STAPLES INC SAYS ITS PROPOSAL FOR ESSENDANT IS "SUPERIOR" TO TRANSACTION WITH GENUINE PARTS CO.STAPLES - WOULD AGREE TO FUND $12 MILLION BREAK-UP FEE SHOULD ESSENDANT BECOME OBLIGATED TO PAY THAT SUM TO GENUINE PARTS UPON TERMINATION OF EXISTING DEAL.STAPLES INC SAYS ITS PROPOSAL FOR ESSENDANT IS NOT SUBJECT TO FINANCING.STAPLES SAYS ITS PROPOSAL FOR ESSENDANT HAS "SIGNIFICANTLY" LOWER ANTITRUST COMPLETION RISK VERSUS GENUINE PARTS DEAL.  Full Article

Essendant Q2 Adjusted Earnings Per Share $0.16
Thursday, 26 Jul 2018 

July 26 (Reuters) - Essendant Inc ::ESSENDANT REPORTS SECOND QUARTER 2018 RESULTS.Q2 ADJUSTED EARNINGS PER SHARE $0.16.Q2 GAAP EARNINGS PER SHARE $0.00.Q2 SALES FELL 0.5 PERCENT TO $1.3 BILLION.SEES FY 2018 SALES DOWN 1 PERCENT.RESULTS FOR Q2 WERE INCLUSIVE OF $5.1 MILLION REDUCTION IN A RECEIVABLES RESERVE FOR ONE CUSTOMER, WHICH BENEFITED EPS BY $0.09 IN QUARTER.EXPECT TO DELIVER ANNUALIZED RUN RATE OF COST SAVINGS OVER $50 MILLION BY 2020.NET SALES FOR FULL YEAR 2018 ARE EXPECTED TO BE DOWN 1% TO DOWN 3% FROM PRIOR YEAR.  Full Article

Genuine Parts Comments On Merger Agreement With Essendant Following Staples' Proposal
Thursday, 17 May 2018 

May 16 (Reuters) - Genuine Parts Co ::GENUINE PARTS COMPANY COMMENTS ON DEFINITIVE MERGER AGREEMENT WITH ESSENDANT FOLLOWING STAPLES' CONDITIONAL, NON-BINDING PROPOSAL TO ACQUIRE ESSENDANT.GENUINE PARTS - "DO NOT BELIEVE STAPLES' CONDITIONAL, NON-BINDING PROPOSAL TO ACQUIRE ESSENDANT FOR $11.50 PER SHARE IN CASH TO BE A SUPERIOR PROPOSAL".  Full Article

Essendant Confirms Proposals From Staples, Genuine Parts Co
Thursday, 17 May 2018 

May 16 (Reuters) - Essendant Inc ::ESSENDANT CONFIRMS RECEIPT OF TWO PROPOSALS: AN UNSOLICITED ALL-CASH OFFER FROM STAPLES, INC. AND A CONTINGENT CASH PAYMENT FROM GENUINE PARTS COMPANY AS AN ENHANCEMENT TO THE AGREED UPON MERGER.ESSENDANT- CONFIRMED THAT IT RECEIVED AN UNSOLICITED PROPOSAL FROM STAPLES, INC. TO ACQUIRE ALL SHARES OF ESSENDANT STOCK FOR $11.50 PER SHARE IN CASH.  Full Article

Essendant Q1 Adjusted Loss Per Share $0.12
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Essendant Inc ::ESSENDANT REPORTS FIRST QUARTER 2018 RESULTS.Q1 ADJUSTED LOSS PER SHARE $0.12.Q1 GAAP LOSS PER SHARE $1.40.Q1 SALES $1.2 BILLION.SEES FY 2018 SALES DOWN 3 PERCENT TO DOWN 5 PERCENT .CONFIDENT WILL DELIVER MORE THAN HALF OF OUR EXPECTED COST SAVINGS IN 2018.2018 ADJUSTED DILUTED EARNINGS PER SHARE IS EXPECTED TO INCREASE IN SECOND HALF OF 2018 COMPARED TO FIRST HALF.ESSENDANT - SEES FREE CASH FLOW GENERATED BY BUSINESS FOR 2018, INCORPORATING COSTS, BENEFITS OF RESTRUCTURING, TO BE IN EXCESS OF $40 MILLION FOR 2018.  Full Article

BRIEF-Essendant Adopts Stockholder Rights Plan

* ESSENDANT INC - RIGHTS PLAN IS STRUCTURED SUCH THAT IT WILL NOT BE TRIGGERED BY DEFINITIVE MERGER AGREEMENT TO COMBINE CO AND S.P. RICHARDS