Randstad Holding NV To Acquire SFN Group

Randstad Holding NV and SFN Group announced that they signed a definitive agreement whereby Randstad will acquire SFN Group through a cash tender offer. Randstad and SFN Group have a comparable service offering in North America and a complementary geographic coverage, which creates a unique strategic fit. Randstad plans to commence a cash tender offer for all shares at $14 per share. The transaction is subject to customary closing conditions including regulatory approvals and the tender of at least 50% of SFN Group's outstanding shares. The transaction has been unanimously approved by the boards of both companies. Randstad expects to close the transaction in September 2011. Randstad will finance the transaction by borrowings under its existing credit facilities.