* To buy out founding shareholders, tender for rest
* Offering 61.7 pct premium to closing price
* Sees limited positive EPS impact next year
* Shares rise 0.6 pct, in line with market
(Adds shares, CEO comments)
AMSTERDAM, Aug 13 Dutch staffing company
Randstad (RAND.AS) will buy the four fifths of Japanese peer
FujiStaff Holdings 2147.Q it does not already own in a move to
boost its reach in the world's second-largest staffing market.
Randstad, the world's second-largest jobs company, said on
Friday it would buy the 44.6 percent stake of FujiStaff's
founding shareholders and launch a tender offer for the
The offer price of 27,500 yen per share represents a 61.7
percent premium to the stock's last close. Randstad said it
would finance the 13.7 billion yen ($160.5 million) deal with
existing credit facilities.
Randstad shares rose 0.6 percent in early trading, in line
with a similar rise for Amsterdam blue chips .AEX.
"The transaction gives Randstad control over an interesting
asset (given the projected margin improvement) in a market that
still has significant potential," SNS Securities said in a
Randstad said the deal would not change its plans to pay a
dividend for 2010. It expects the acquisition to have a "limited
positive impact" on earnings per share next year.
The deal is contingent on regulatory approvals and Randstad
raising its economic stake in FujiStaff to at least 75 percent
via the tender, which is set to close on Oct. 13.
Randstad generates most of its sales in the United States
and western Europe, and executives said the deal was a necessary
move to broaden its base.
"Whereas Randstand has a pretty good footprint in most of
these markets, in Japan we were still a tiny company," Chief
Financial Officer Robert-Jan van de Kraats told analysts on a
Two weeks ago Randstad said it was not seeing a double-dip
in the economy but was finding clear signs that companies in
major markets were hiring more staff. [ID:nLDE66R0PS]
(Reporting by Ben Berkowitz; Editing by Michael Shields and