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Netherlands – Randstad reinforces support for Monster deal

05 October 2016

Randstad Holding NV expressed confidence in its planned acquisition of Monster Worldwide Inc. (NYSE: MWW) in a statement filed Monday with the US Securities and Exchange Commission. The statement came after renewed opposition to the deal came from MediaNews Group Inc., Monster’s largest shareholder.

“Randstad has full confidence in its proposed transaction to acquire Monster Worldwide Inc.,” Randstad said in its statement. “We believe our terms deliver substantial and certain value for MWW shareholders.”

The global staffing provider in August agreed to acquire Monster for an enterprise value of approximately $429 million; MediaNews Group, Monster’s largest shareholder with an 11.6% ownership stake, opposes the deal and is seeking to replace the existing seven Monster directors as well as CEO Tim Yates.