The European Commission has today approved Swiss recruitment firm's Adecco's acquisition of US rival MPS Group.
Adecco, the world's largest staffing company, announced in October it was buying MPS for $1.3 billion. MPS Group provides professional staffing solutions, focusing its European activities on the British market.
"After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it," a Commission statement said.
MPS Group's board of directors had unanimously backed Adecco's offer of $13.80 per share.
This deal, as well as the recent acquisition of Britain's Spring Group, means close to 25 per cent of Adecco's group revenues will be generated in the more lucrative professional staffing arena, up from 17 per cent in 2008, Adecco said.
The transaction is expected to close in the first quarter of 2010.
Reuters