Adjusted Timeline Stated by UK Takeover Panel, According to ADECCO
Adecco S.A., a leading global HR services company and a Fortune Global 500 company, is facing a crucial deadline in its potential takeover bid for Michael Page International PLC.
On September 30, 2008, at 5 p.m. UK time (6 p.m. CET), Adecco S.A. must either announce a firm intention to make an offer for Michael Page International PLC or declare that it has no intention of making an offer, as set by the UK Takeover Panel. This deadline was accepted by all parties involved.
Adecco S.A. connects over 700,000 associates with clients each day through its extensive network of over 6,700 offices in more than 60 countries and territories. The company is registered in Switzerland and listed on the Swiss Stock Exchange and Euronext Paris.
Under the UK Takeover Code, all 'dealings' in 'relevant securities' of Michael Page or Adecco S.A. must be publicly disclosed by specific times, as outlined in Rules 8.3 and 8.1. Terms such as 'relevant securities', 'interests in securities', and 'dealings' are defined in the Code. An 'interest in securities' arises when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities.
Persons in possession of this announcement are advised to familiarise themselves with any applicable restrictions to avoid violating securities law. If there is doubt about disclosure requirements under Rule 8, consult the Takeover Panel. The disclosure table for 'dealings' can be found on the Takeover Panel's website.
It is important to note that this announcement does not represent a firm intention by Adecco S.A. to make an offer under Rule 2.5 of the Code. This announcement is not intended to, and does not, constitute or form part of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities.
For further information, contact Adecco S.A.'s Corporate Press Office or Corporate Investor Relations, whose contact details are provided. A further announcement will be made when appropriate.
The offer for Michael Page International PLC, if made, would be made by the bidder or acquirer initiating the takeover; however, the specific bidder's identity is not provided in the available information.
This article aims to provide factual information and does not express any opinions or speculations.
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