Tick tock, tick tock! Adecco SA has until Sept. 30 to announce if it's going to bid for Michael Page International plc, or else it has to walk away from the deal.
A deadline has been accepted by both parties during a U.K. Takeover Panel ruling, according to the Financial Times.
If Adecco walks away from the deal,
it will be prohibited from making an offer for Michael Page for
six months.
Adecco, the world's largest staffing company, indicated Aug. 18 it could go hostile with its £1.3 billion ($2.4 billion) bid to buy Michael Page if it can't agree to a deal. Michael Page ended takeover talks with Adecco after rejecting a revised bid worth around 400 pence per share.
- Maria Woehr
Tick tock, tick tock! Adecco SA has until Sept. 30 to announce if it's going to bid for Michael Page International plc, or else it has to walk away from the deal.
