Adecco SA (ADEN.VX) will acquire U.S.-based staffing firm MPS Group Inc. (MPS) for $1.3 billion in cash, the two firms said Tuesday.
The Swiss job placement firm will pay $13.80 per common share for MPS, in a transaction which has been unanimously approved by MPS' board of directors.
Adecco, which will finance the deal through cash resources as well as financing, expects to close the deal in the first quarter of 2010.
The purchase price represents a 24% premium over $11.14, which is where MPS closed Monday.
Company Web site: http://www.adecco.com
-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043; katharina.bart@dowjones.com