Randstad receives competition clearance for acquisition of Proffice
Randstad Nordic AB (Randstad), a company indirectly owned by Randstad Holding nv (“Randstad Holding”), announced on 30th November 2015 a recommended cash offer to the shareholders of Proffice AB (“Proffice”) (the “Offer”).
Randstad has now received the necessary competition clearance for completion of the Offer from the European Commission. As a result, completion of the Offer is no longer conditional upon receipt of necessary clearances from authorities.
According to Randstad, the last day to accept the Offer is 27th January 2016.
Randstad says that settlement will begin as soon as it has announced that the conditions for the Offer have been satisfied or that it has otherwise resolved to complete the Offer. Randstad expect an announcement to be around 1st February 2016 and, therefore, settlement is expected to begin around 4th February 2016.