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MPS Group Inc. (NYSE: MPS) announced it agreed to a settlement of two putative class action lawsuits filed in response to the planned acquisition of it by Adecco SA.
A court must still OK the settlement. If approved, the lawsuits will be dismissed.
The settlement calls for MPS Group to provide additional information to supplement a previously filed proxy statement. MPS has also agreed to pay legal fees and expenses of plaintiff's counsel.
MPS announced an agreement in October to be acquired by Adecco for $13.80 per share in cash in a deal valued at approximately $1.3 billion.