September 5, 2011- 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.