Randstad Holding nv (RAND.AS) announces that on August 22, 2011 the Canadian Competition Bureau issued a no-action letter which constitutes Canadian Competition Act clearance for the proposed acquisition of SFN Group (NYSE: SFN) by Randstad Holding nv. The clearance in Canada and the previously announced early termination of the HSR waiting period in the US constitute the regulatory approvals necessary to satisfy the closing conditions for the tender offer.
The tender offer to purchase all outstanding shares of common stock of SFN Group at a price of $14.00 per share in cash, without interest and less any required withholding taxes, commenced on August 1, 2011, through Randstad’s indirect, wholly owned subsidiaries Randstad North America LP and Cosmo Delaware Acquisition Corp. The tender offer will expire at 5 pm EDT, on August 29, 2011, unless extended in accordance with the terms of the merger agreement and applicable SEC rules and regulations.
The complete terms and conditions of the tender offer are set forth in the Offer to Purchase, copies of which are available by contacting the Information Agent, Georgeson Inc., at (888) 661 5651 or via the SEC’s website at www.sec.gov.