Randstad Holding nv (RAND.AS) announces it has successfully completed the acquisition of SFN Group, Inc.
(NYSE: SFN). The total value of the transaction amounts to approximately $771 million.
Ben Noteboom, CEO Randstad Holding nv, comments: “People from both organizations have put in a lot of effort to ensure this transaction was a success, and I thank them all for their contributions. We are very excited to be working side by side in building a strong presence in the North American market. The new
combination offers an unrivaled portfolio of services to customers across the U.S. and Canada and many opportunities for growth and development to all employees. The integration process is a joint effort and I am confident it will run smoothly; it will be business as usual for customers and candidates, including continuing to receive quality service delivery.”
As part of the short form merger that occurred on September 2, 2011, the remaining outstanding SFN shares have been canceled and converted into the right to receive the same $14.00 per share, in cash, without interest and less any applicable withholding taxes, that was paid in the tender offer as noted in the press release on the subject dated August 30, 2011.