Randstad to acquire Monster Worldwide

Randstad Holding announced that it has received merger control clearance from the European Commission for its acquisition of Monster Worldwide. Approval of the acquisition from the European Commission was the last regulatory approval required with respect to Randstad’s previously announced tender offer for the outstanding shares of common stock of Monster.

Now that the last regulatory approval has been acquired, Randstad expects the transaction to be completed within a few business days after a majority of Monster’s shares are tendered.

Randstad made a $3.40 per share, or $429 million, bid for Monster, famous for its jobs listings board, in August. The Dutch group is facing opposition from U.S. newspaper operator MediaNews Group, controlled by hedge fund Alden Global, which has amassed a 11.5% stake in Monster and has urged other shareholders to resist Randstad’s bid.