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Adecco buys rival for $1.3bn
ADECCO, the world’s largest staffing company, is buying American rival MPS Group for $1.3bn (£790m), boosting its high-margin and more recession-resilient professional staffing business.
Adecco also said it was launching a SFr900m (£540m) mandatory convertible bond to accommodate the cash deal.
The MPS deal, plus the recent acquisition of Britain’s Spring Group, means close to 25 per cent of Adecco revenue will be generated in the more lucrative professional staffing arena, up from 17 per cent in 2008.