Manpower Inc to Acquire Right Management Consultants

December 11, 2003 ( Inc., a workforce management services company, announced plans to acquire Right Management Consultants Inc., a career transition and organizational consulting provider, for approximately $488 million including stock options.

After the acquisition, Manpower’s organizational consulting business, The Empower Group, will be merged into Right.

Wednesday, Right’s stock had a closing price of $17.16 on the New York Stock Exchange, but Manpower will purchase Right’s common stock for $18.75 per share. The acquisition will be completed tax free for Right shareholders, except if shareholders receive cash for fractional shares, according to a statement.

Once the initial exchange is completed, Manpower will acquire any remaining Right stock in a second-step merger.