Dechert represented an affiliate of Randstad Holding nv (Euronext Amsterdam: RAND.AS), the world’s second largest staffing company, in its definitive agreement to acquire the outstanding common stock of SFN Group, Inc. (NYSE: SFN), a strategic workforce solutions company, for $14.00 per common share through a cash tender offer, for a total consideration of approximately $770 million. The transaction, which is subject to customary closing conditions, including regulatory approvals and the tender of greater than 50% of SFN Group’s outstanding shares, is expected to close in the third quarter of 2011. This strategic acquisition will make Randstad the third-largest HR services provider in North America, doubling its presence in the US and reinforcing its leading position in Canada.

An interdisciplinary team of Dechert lawyers, led by partner Stephen Leitzell, represented Randstad Holding in this public, cross-border M&A transaction, including James Stefanick, Anthony Frick, James Hipolit, Jeremy Levy, Hamid Moghadam, (Corporate); James Fishkin, Jen Coon (Antitrust); Abbi Cohen (Environmental); David Jones, Frank Tripodi (Employee Benefits); Francois Quintard-Morenas (Finance and Real Estate); Ed Lemanowicz, Jason Kurth (Tax); Jeffrey Rubin (Labor); and Jay Johnston (Intellectual Property).