Adecco: Update regarding Michael Page
August 15, 2008 | by Adecco
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August 15, 2008, Zurich, Switzerland. Adecco S.A. ("Adecco"), the worldwide leader in Human Resource services, notes the announcement made this morning by Michael Page International PLC ("Michael Page") and announces that it is still considering its position regarding a possible offer.
Adecco believes that there is scope for a combination with Michael Page which is to the benefit of both companies and their respective shareholders. Adecco places considerable value on the management and strong culture of Michael Page. It is therefore important to Adecco that it is able to retain the senior management of Michael Page in the event that an offer is completed. Adecco has been unable to engage in satisfactory discussions to gain comfort on this issue.
As Adecco stated in its announcement on August 5, 2008, the company remains focussed on value-based management and considers acquisition targets with financial discipline.
A further announcement to the market will be made when appropriate.
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Source: Adecco, Press release