- Cash bid of A$3.02 per share a 68 pct premium to closing price
- Recommended by Programmed Maintenance Board
- Programmed says same management will continue
(Adds chairman quote, Persol statement and background)
SYDNEY, July 14 (Reuters) - Japanese recruitment company Persol Holdings Co Ltd <2181.T> has made a A$778 million ($600 million) takeover bid for Australian recruiter Programmed Maintenance Services Ltd (PRG), the target company said on Friday.
The Programmed Maintenance board said it unanimously recommended the all-cash offer of A$3.02 per share, a 68 percent premium to Thursday's closing price of A$1.80.
"The Programmed board believes that Persol will be a well-capitalised, supportive owner of Programmed if the scheme proceeds," Chairman Bruce Brook said in a statement to the Australian securities exchange.
Perth-based Programmed provides staffing and facilities management in Australia and New Zealand and Tokyo-based Persol operates similar businesses across the Asia-Pacific.
Persol said in a statement it was looking to leverage Programmed Maintenance's strengths in Australia and New Zealand as part of its expansion plans in the region.
Programmed's Chief Executive Officer Chris Sutherland and other senior management committed to continue in the business should the takeover succeed.
($1 = 1.2922 Australian dollars)
