AMSTERDAM, June 20 (Reuters) - Randstad, the second-largest staffing firm by sales, on Monday announced a management-backed bid for French peer Ausy SA which it said had an enterprise value of 420 million euros ($477 million).
The Dutch firm said it was offering 55 euros per share, a 27 percent premium to Ausy’s close at 43.11 on Friday. That values its equity at roughly 280 million euros.
Randstad said it is also launching bids for Ausy’s outstanding warrants and convertible bonds. Ausy’s annual report for 2015 showed it carrying 137 million euros in long-term debt, but did not give a net debt figure.
Randstad representatives reached by email said they could not immediately clarify details of the bids for the warrants and convertible bonds or how they relate to the company’s stated enterprise value.
Ausy specialises in technology consultancy, a relatively high-margin staffing segment where Randstad has said it is seeking to expand.
Ausy clients includes EADS, France Telecom, Amadeus, Thales, Safran, ST Microelectronics, and Belgacom, among others, operating mostly in continental Europe.
The purchase would be the second this month for Randstad, which purchased twago, a European web platform that matches freelancers with employers, for an undisclosed sum on June 12.
$1 = 0.8811 euros Reporting by Toby Sterling; editing by Jason Neely
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