Randstad, a Dutch recruitment firm, is about to close a deal with Monster job board, Monster, in a deal that is to be 429 million the dollars. The deal is set to close around the fourth quarter. When the deal is completed, Monster will detach itself from the New York Stock Exchange and continue to run under Randstad. The pioneer in job posting has struggled lately against niche job boards, but this move is expected to help them face their tough competition.
- Randstad Holding NV said Tuesday it agreed to buy Monster Worldwide Inc. for $429 million.
- Upon completion of the deal, Monster will delist from the New York Stock Exchange, and operate as a separate entity under Randstad.
- Randstad ranks itself as the second-largest, human-resources services provider in the world, behind Switzerland’s Adecco Group AG.
“Randstad said it agreed to pay $3.40 a share for Monster, a 23% premium to its closing stock price on Monday. The Dutch company said it would finance the deal through existing credit facilities and expects to complete it in the fourth quarter of this year.”