Adecco to acquire MPS for $1.3 billion

Switzerland's Adecco , the world's largest staffing company, said on Tuesday it would acquire U.S. rival MPS Group Inc for $1.3 billion in a cash transaction.

Adecco will pay $13.80 per MPS share, a premium of 24 percent to the Florida-based company's closing price on Monday.

The Swiss company said the deal would enhance its position in the professional staffing business in North America and Britain and add to adjusted earnings in the first year.

MPS said in a separate statement its board unanimously approved the deal.

Shares of MPS closed at $11.14 Monday on the New York Stock Exchange, while Adecco's shares closed at 54.60 sfr on Monday.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Jon Loades-Carter)