New York Times - DealBook - Oct 20, 2009MPS Group, Inc.
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New York Times - DealBookAdecco, the world's largest staffing company, has bought American rival MPS Group for $1.3 billion, boosting its position in the high margin professional staffing business. To shore up its balance sheet and protect its investment grade credit rating in the wake of the cash deal, Adecco also said Tuesday that it was launching 900 million Swiss francs ($888 million) of mandatory convertible bonds, Reuters reported. "We are delighted to have
MPS Group become part of the Adecco Group, in a move that will see Adecco taking the world wide lead in professional staffing," the company's chief executive, Patrick De Maeseneire, said in a statement.
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<span class="sent">Adecco, the world's largest staffing company, has bought American rival <span class="company">MPS Group</span> for $1.3 billion, boosting its position in the high margin professional staffing business. </span> To shore up its balance sheet and protect its investment grade credit rating in the wake of the cash deal, Adecco also said Tuesday that it was launching 900 million Swiss francs ($888 million) of mandatory convertible bonds, Reuters reported. "We are delighted to have <span class="company">MPS Group</span> become part of the Adecco Group, in a move that will see Adecco taking the world wide lead in professional staffing," the company's chief executive, Patrick De Maeseneire, said in a statement.
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