Superior People Recruitment are 100% Australian owned and run, and will remain so

Posted on Jul 14, 2017 by Graham WynnGraham Wynn

Superior People Recruitment are 100% owned and run by Australians. We mention this Programmed Maintenance labour hire, with head office in Perth sell out to Japanese company.

Shares in the staffing and facilities maintenance business Programmed Maintenance Services have soared almost 70 per cent on news of a takeover offer from a Japanese company.

Key points:

$3.02 per share offer a 69pc premium on previous close
Headquarters will be retained in Perth
Deal unanimously accepted by the bard, but still requires FIRB and shareholder approval
The $778 million offer from Persol — one of the Japan’s largest labour hire businesses — has been unanimously accepted by Programmed’s board.

Programmed chairman, Bruce Brook, said the 100 per cent cash proposal represented compelling value and provided an attractive opportunity for Programmed shareholders to realise this value.

Mr Brook said the board was first approached by Persol around a year ago in a discussion about the company’s strategic direction and in the last few weeks the discussion turned to “value”.

We can only hope that this will not result in reduction of local staff employed as normally happens when such take overs occur.