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Two British staffing firms completed their merger last week and began trading publicly in the United Kingdom as Impellam Group PLC. The company would have had combined revenue approaching GBP1 billion (almost US$2.00 billion) in 2007, according to a regulatory filing.
Impellam is a combination of Corporate Services Group PLC and the Carlisle Group Ltd. Under the deal, Carlisle shareholders were to receive one Impellam share for every Carlisle share and Corporate Services shareholders would get one Impellam share for every 50.4 shares. Carlisle shareholders were also to receive shares in a new subsidiary called Shellproof.