Monster Worldwide To Be Bought By Randstad For $429 Mln - Quick Facts

(RTTNews) - Monster Worldwide, Inc. (MWW) Tuesday said it has signed a definitive agreement to be acquired by Randstad Holding nv, a Dutch human resources services provider, for $3.40 per share in cash. The total purchase price would be approximately $429 million in enterprise value.

With the deal, Randstad intends to build the world's most comprehensive portfolio of HR services. Monster will continue operating as a separate and independent entity under the Monster name.

The consideration represents a 22.7% premium to Monster's closing stock price on August 8,the last trading day prior to the announcement and a 30.1% premium to the 90 day volume weighted average stock price.

The transaction is expected to be immediately accretive to Randstad earnings per share.

Under the deal terms, Randstad has agreed to commence a tender offer, through a wholly-owned subsidiary, to acquire all Monster common stock. The Boards of Directors of both Randstad and Monster have unanimously approved the terms of the merger agreement. Monster Board has resolved to recommend that shareholders accept the offer, once it is commenced.

The transaction does not have a financing condition and is expected to be completed in the fourth quarter of 2016, subject to regulatory approvals.

Wells Fargo Securities is serving as exclusive financial advisor to Randstad and Evercore Group L.L.C. is serving as exclusive financial advisor to Monster.