Dec 6, 2007

Randstad takes over Vedior

Human resources company Randstad takes over competitor:

"The Dutch temporary employment company Randstad announced Monday that it would take over competitor Vedior to become the second largest human resources company worldwide. Randstad will pay a 3.51 billion euros (5.14 billion dollars) for Vedior in a mixed deal of cash and shares. Randstad is proposing 0.32759 Randstad shares and 9.50 euros per Vedior share, which values each Vedior share at 20.19 euros, the companies announced. The takeover, which Randstad chairman Ben Noteboom characterized as 'more of a merger,' will create the world's second largest temp company with combined revenues of 17.3 billion euros."

Hmm... I wonder what the reality would be in India. Randstad has recruiting firm Emmay HR Services while Vedior has a stake in the much larger Ma Foi Management Consultants