Staffing agency Randstad has reached a deal to pay €4.25m to compensate shareholders who lost out when sector peer Vedior’s share price soared on takeover rumours in 2007.
The deal has been worked out between Randstad and shareholders’ lobby group VEB, and approved by the company court.
Vedior’s share price rose nearly 20% on November 30 following rumours it was to be taken over by Randstad. Trading was suspended and Vedior issued a press release confirming it was in takeover talks.
Shareholders who sold their stakes that morning are entitled to 80% of the difference between the sale price and the price of Vedior shares later that day when trading resumed.
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