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Randstad extends tender offer to acquire Monster

September 23, 2016

Randstad North America Inc.’s wholly owned subsidiary, Merlin Global Acquisition Inc., extended its tender offer to acquire Monster Worldwide Inc. (NYSE: MWW) from Oct. 3 to Oct. 28. The extension was made to coordinate the offer’s timing with the EU regulatory review schedule; all other terms and conditions of the offer remain unchanged.

Global staffing provider Randstad Holding nv in August agreed to acquire Monster in a tender offer of $3.40 per share in cash, or an enterprise value of approximately $429 million.

The European Commission now expects to conclude its review by Oct. 26, and if there are no objections to the review, all regulatory clearances are expected to have been obtained by that date. However, MediaNews Group Inc., the largest shareholder in Monster, has previously voiced opposition to the sale, stating the deal undervalues the company.

Broadridge Corporate Issuer Solutions Inc., the depositary for the offer, advised that as of 5:00 pm EST Sept. 22, approximately 6,048 shares of common stock of Monster have been validly tendered and not properly withdrawn pursuant to the offer, representing less than 1% of the outstanding shares of common stock of Monster.