Accord reached for Adecco Group to fully acquire AKKA Technologies
In a significant move, the world's leading talent advisory and solutions company, headquartered in Zurich, Switzerland, has announced a squeeze-out bid for AKKA Technologies, a French engineering and technology consulting company. The announcement was made in April 2022, with the acceptance period opening on the 21st and closing on the 11th of May.
The squeeze-out bid, a common practice in takeovers, allows a majority shareholder to buy out minority shareholders and gain full control, usually after obtaining a threshold percentage of shares. According to the latest available information, 604,672 shares (5.89% of the shares to which the bid relates) were tendered during the acceptance period. Additionally, 73 convertible bonds (4.17% of the outstanding convertible bonds to which the bid relates) were tendered into the bid.
The acquiring company in this case is Modis, a wholly owned subsidiary of the same group. All securities not tendered in the squeeze-out are deemed to have been transferred to the group via Modis.
As a Fortune Global 500 company, the group leads by example, creating shared value that fuels economies and builds better societies. With operations in around 60 countries, the group enables more than 3.5 million careers.
For further information regarding the investment, interested parties can contact the Investor Relations team at investor.relations@[the group's website], or by phone at 41 (0)44 878 88 88. For media inquiries, please contact the Press Office at media@[the group's website], or by phone at 41 (0)44 878 87 87.
As of June 2024, no recent updates on the status of the squeeze-out bid for AKKA Technologies are available. However, for the most accurate and up-to-date information, one can refer to official AKKA investor communications or French stock exchange releases. The payment of the squeeze-out is scheduled to take place on 13 May 2022.
The acquisition of AKKA Technologies by Modis, a subsidiary of the leading group, opens opportunities for discussion on the future of work in the field of engineering and technology consulting. With the payment of the squeeze-out scheduled in May 2022, investors are now considering the financial implications and potential returns from this business merger.
