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Randstad shareholders OK Vedior deal

April 23 2008

Randstad Holding NV said shareholders at a meeting today agreed to the plan to acquire Vedior NV. The combined company would rank as the second-largest staffing firm in the world. Vedior shareholders are set to vote Friday.

Randstad also announced that two new executive board members were appointed pending the successful outcome of the Vedior deal. They were Greg Netland, chief executive of Vedior North America, and Brian Wilkinson, a member of Vedior's board of management.

The company also appointed two new members to its supervisory board pending the deal going through, Beverley Hodson and Henri Giscard d'Estaing. Both are members of the Vedior supervisory board.

Randstad launched its offer for shares of fellow Dutch staffing firm Vedior on April 1. Randstad will pay euro9.50 plus 0.32759 in its own shares for each Vedior share; the offer values Vedior shares at euro19.22. The offer is contingent on 66.67% of all Vedior shares being committed. The offer is scheduled to end May 9.


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