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UPDATE 1-Randstad ups Vedior cash offer to 9.55 euros/share

Wed May 7, 2008 10:40pm IST
 
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AMSTERDAM, May 7 (Reuters) - Dutch staffing company Randstad NV (RAND.AS: Quote, Profile, Research) marginally raised the cash part of its 3.2 billion euro takeover offer for Vedior VDOR.AS to take into account 2007 dividends.

Randstad will now pay 9.55 euros per share, up from a previously announced 9.50 euros, to create the world's number two staffing firm, the companies said in a joint statement on Wednesday.

Randstad is also offering 0.32759 of its share for each Vedior share. The increased cash element values Vedior at 3.25 billion euros, up from 3.24 billion euros, based on current share prices.

The tender period for Randstad's offer ends on Friday. It has already won shareholder and European Commission approvals.

The companies had indicated previously that the offer price per share would be cum dividend.

Randstad shares closed at 27.88 euros on Wednesday and Vedior at 18.06 euros. (Reporting by Catherine Hornby and Foo Yun Chee, editing by Will Waterman)

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