Recruit and USG People issue acquisition offer update
Recruit Holdings and USG People have issued an update on Recruit Holdings's offer to acquire USG People.
On 22nd December 2015 Recruit Holdings Co.,Ltd and USG People N.V. issued a joint press release in respect of the intended recommended all cash offer by Recruit for all issued ordinary shares of USG People at an offer price of € 17.50 per ordinary USG People share, subject to customary conditions.
Recruit and USG People confirm that they are making timely progress on the preparations for the Offer. Recruit expects to submit a request for review and approval of the offer memorandum with the Netherlands Authority for the Financial Markets in any event by 15 March 2016, which is the date by which under Dutch law a request for approval must be submitted to the AFM. Recruit will publicly announce the availability of the offer memorandum and commencement of the offer period which is currently expected to commence in April 2016.