Administration November 12, 2003
Manpower Inc to Acquire Right Management Consultants
December 11, 2003 (PLANSPONSOR.com)-Manpower 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.
Reported by Alison Cooke
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.
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