Afternoon Coffee: Essendant Pursues Acquisition Deal with Staples, Field Nation Launches Total Workforce Management Solution


Office supply company Essendant announced Monday it would end its agreement to merge with Genuine Parts Co. and instead pursue a deal with Staples, The Wall Street Journal reports. Staples proposed to buy Essendant for $12.80 a share in cash, which comes to $482.7 million.

Field Nation Upgrade 

Field Nation announced Monday the launch of Field Nation ONE, a platform for “sourcing, engaging and managing a company's on-site and on-demand workforce,” according to a press release. The new product aims to help businesses optimize their contingent workforce, organize talent pools and manage project workflows. 

Semiconductor Merger 

Renesas Electronics announced Monday it had agreed to buy Integrated Device Technology Inc. (IDT) for $6.7 billion, its second recent major acquisition, Reuters reports. The deal underscores Renesas’ push into the self-driving car space, which faces intense competition among semiconductor manufacturers as they vie to claim dominance in the highly lucrative field of automotive chips.

NAFTA Update 

And finally, a trade update: Canada and the U.S. have agreed to continue discussions about forging a new North American Free Trade Agreement (NAFTA), with high-level talks resuming Tuesday, according to The Hill. Trade negotiators are aiming to complete a deal between the two countries by the end of the month so that Mexico, Canada and the U.S. can sign a trilateral agreement by the end of November.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.