Following Randstad’s announcement to acquire Monster Worldwide, for a total purchase price of UD$429 million (enterprise value), or at the rate of $3.40 per share in cash; it has now received European Commission approval for the acquisition.
This was the last regulatory approval required with respect to Randstad’s previously announced tender offer for any and all outstanding shares of common stock of Monster.
Randstad has also confirmed that its offer of $3.40 per share in cash is full and final, and will not be increased.
The transaction is expected to be completed within a few business days after a majority of Monster’s shares are tendered. The Tender Offer is scheduled to expire on October 28, 2016 at 12:00 midnight, New York City time, unless further extended.
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This article was first published in Human Resources Online Bulletin and is reproduced with permission. Original article can be found at http://www.humanresourcesonline.net