Manpower Inc. Board Mulls Blue Arrow Bid
The board of Manpower Inc., the world’s largest supplier of temporary personnel, met Friday to consider its response to the $1.2-billion takeover attempt by British-based Blue Arrow but made no immediate announcement.
The stock fell by $1.25 Friday, closing at $74.75, as investors’ hopes of a bidding war faded. Pending its official response, Manpower has asked its shareholders not to accept Blue Arrow’s offer of $75 a share.
The Milwaukee-based company, which is being advised by the investment banking firm of Morgan Stanley, has promised to respond officially to the unsolicited takeover attempt by Monday.
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