Michael Page has not received an offer from Adecco at this point in time, as the company maintains a strict financial restraint.
In a recent announcement, Adecco, the worldwide leader in HR services, has decided to forgo a takeover offer for Michael Page International PLC and instead, focus on expanding its professional operations in the USA, Europe, and Asia.
Adecco, a Fortune Global 500 company, boasts a vast network of over 6,700 offices in more than 60 countries and territories. This global network connects over 700,000 associates with clients each day, employing over 36,500 employees (FTEs).
The Swiss-based company, registered under the ISIN: CH0012138605 and listed on the Swiss Stock Exchange (SWX: ADEN) and the Euronext Paris (EURONEXT: ADE), has concluded that it will not be able to agree on a combination with Michael Page at this time. However, Adecco believes that a potential combination could have benefited both companies and their respective shareholders.
Adecco reserves the right to make or participate in an offer for Michael Page under certain conditions, such as the agreement or recommendation of Michael Page's board, following the announcement of an offer by a third party for Michael Page, or if there is a material change in circumstances.
Michael Page, another worldwide leader in HR services, has not issued a public response to Adecco's announcement.
For press inquiries, investors, and general information, interested parties are invited to contact Adecco's Corporate Press Office ([email protected] or Tel. +41 (0) 44 878 87 87) or Corporate Investor Relations ([email protected] or Tel. +41 (0) 44 878 89 25).
Adecco's stated strategy is to expand its professional operations in the US, Europe, and Asia, as well as looking at specialized general staffing companies. The company remains financially disciplined and committed to its growth strategy.
This announcement is subject to Rule 2.8 of The City Code on Takeovers and Mergers. Trading for Adecco can be found on SWX Europe and the Euronext Paris.
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