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Recruit announces results of Post-Closing Acceptance Period for USG People

Recruit has announced the results of the post-closing acceptance period for USG People.

Following 17:40 hours CET on 15th June 2016, being the expiry date of the Post-Closing Acceptance Period of the Offer, 3,107,697 Shares, representing approximately 3.83% of the shares, were tendered in the Post-Closing Acceptance Period.

The shares tendered in the Post-Closing Acceptance Period, together with 76,937,783 shares that were already held by Recruit following Settlement of the Shares tendered in the initial Acceptance Period, represent approximately 98.68% of the shares and an aggregate value of approximately EUR 1.4 billion (at an Offer Price of EUR 17.50 per Share (cum dividend)). 

Settlement of the shares tendered in the Post-Closing Acceptance Period and payment of the Offer Price per validly tendered share shall be made on 22nd June 2016 (the “Settlement Date”). 

On the Settlement Date, Recruit and USG People will apply for (i) the delisting of the shares from Euronext Amsterdam and (ii) the termination of the listing agreement between USG People and Euronext Amsterdam. Information on such application and the expected last day of trading will be announced shortly. 


Recruit will initiate a Statutory Buy-Out or Takeover Buy-Out as soon as possible in order to acquire the remaining shares not tendered.

Recruit will bring the expertise accumulated domestically to USG, according to managing corporate executive officer Hitoshi Motohara, who has become chairman of the Dutch company.

The USG acquisition gives Recruit offices in major cities of developed nations. Recruit has been strengthening its overseas business through acquisitions, including in the U.S. and Australia. It says it will consider additional acquisitions to expand in the global market for staffing services, which is estimated at 40 trillion yen.

Motohara said, "The market will grow further as the way people work becomes more diverse.”

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