ZURICH -(Dow Jones)- Swiss staffing giant Adecco SA (ADEN.VX) is screening the market for takeover targets, for which it could raise up to EUR1.4 billion, the company said Tuesday.
Adecco, which earlier Tuesday announced that it has walked away from its approach of U.K.'s Michael Page International PLC (MPI.LN), could leverage its balance sheet for some EUR1 billion, and has EUR400 million of its own shares in treasury, spokesman Stephan Howeg told Dow Jones Newswires.
Maintaining the investment grade credit rating is an important consideration with regards to takeovers, Howeg said. Adecco's credit rating is currently triple B.
Adecco has made some 30 acquisitions in the last 2 years, from large ones like DIS AG to small bolt-on buys.
USG de volgende of gaan ze direct voor randstad/vedior?