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Adecco strikes Dutch deal

September 02 2008

Adecco SA, the world's largest staffing firm, struck a deal to acquire DNC De Nederlanden Compagnie NV. If completed, the combined company would be the third-largest professional staffing firm in the Netherlands, according to Adecco. DNC provides staffing in information and communications technology, finance, legal, management support and information management.

Adecco will make an offer within the next two months of euro12.25 million per share for DNC, valuing the company at approximately euro56 million (US$82.0 million).

The offer is contingent on approval of 95% of outstanding shares of DNC and approval from regulators. The offer is backed by DNC CEO Koos de Vink, and 80% of outstanding shares have already been committed.

The DNC acquisition comes amid Adecco's effort to acquire London-based staffing firm Michael Page International PLC. Page rejected an earlier offer, now Adecco has until Sept. 30 to make a new offer or walk away.

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