Randstad's Monster acquisition is approved by European Commission, with price finalised
Randstad Holding nv announced today that it has received merger control clearance from the European Commission for its acquisition of Monster Worldwide, Inc.
Approval of the acquisition from the European Commission 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.
Now that the last regulatory approval has been acquired, Randstad expects the transaction 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 and Randstad confirms that its offer will not be increased and the offer price of $3.40 is full and final.
The tender offer is being made pursuant to an Offer to Purchase, dated September 6, 2016, as amended, and in connection with the Agreement and Plan of Merger, dated August 8, 2016, among Monster, Randstad North America, Inc. and Merlin Global Acquisition, Inc., which was announced on August 9, 2016. Consummation of the tender offer remains subject to other customary conditions as described in the Offer to Purchase.