Randstad to acquire monster worldwide to transform the way people and job connect

Enhances Randstad’s Digital Human Resources Services Strategy

Monster to Operate as Separate and Independent Entity Under the Monster Name

AMSTERDAM, NETHERLANDS and WESTON, MASS. – August 9, 2016 – Randstad Holding nv (AMS: 
RAND), a leading human resources services provider, and Monster Worldwide, Inc. (NYSE: MWW), a 
global leader in connecting jobs and people, today announced the signing of a definitive agreement under 
which Randstad will acquire Monster. Under the terms of the merger agreement, Randstad will pay $3.40 
per share in cash, or a total purchase price of approximately $429 million (enterprise value).

By leveraging Monster’s multiple distribution channels to bridge two different but complementary parts of 
the extended recruiting industry, Randstad intends to build the world’s most comprehensive portfolio of 
HR services. Monster will continue operating as a separate and independent entity under the Monster 
name.
“In an era of massive technological change, employers are challenged to identify better ways to source 
and engage talent,” said Jacques van den Broek, CEO of Randstad. “With its industry leading technology 
platform and easy to use digital, social and mobile solutions, Monster is a natural complement to 
Randstad. The transaction is aligned with our Tech and Touch growth strategy and reflects our 
commitment to bringing labor supply and demand closer together to better connect the right people to the 
right jobs. We look forward to welcoming the Monster team and working together to shape the evolving 
global job industry.”
“Joining Randstad provides a unique opportunity to accelerate our ability to connect more people to more 
jobs,” said Tim Yates, CEO of Monster. “Together with Randstad, Monster will be better positioned to 
fulfill our core mission, and our employees will benefit from becoming part of a larger, more diversified 
company. Equally important, this transaction offers immediate value to our shareholders. We are excited 
to join and be supported by Randstad, as we continue to build the best recruiting media, technologies, 
and platforms. We look forward to working with the Randstad team to ensure a smooth transition.” 
Strategic and Financial Benefits
 Brings Together Complementary Visions to Lead Transformation: Randstad and Monster 
have a shared vision for the global job industry, which is rapidly transforming as a result of 
technology advances. The transaction is intended to accelerate their ability to develop new and 
innovative capabilities that deliver greater value to job seekers and employers by bringing labor 
supply and demand closer together.

 Creates Most Comprehensive and Technologically Advanced Capabilities for Human 
Resources Services: Randstad continues to enhance its business model in the rapidly shifting 
landscape, placing annually more than 2 million people worldwide through its network of more 
than 4,500 branches and client-dedicated services. With the addition of Monster’s leading 
recruiting media, technologies, and platforms which connect people and jobs in more than 40 
countries, Randstad intends to further expand its services to offer both clients and candidates 
tools for increased efficiency and engagement, connecting more people to more jobs. 
 Financially Compelling: The transaction is expected to be immediately accretive to Randstad 
earnings per share.
Terms of the Agreement 
Under the terms of the merger agreement, Randstad has agreed to commence a tender offer, through a 
wholly-owned subsidiary, to acquire all of the outstanding shares of Monster common stock for $3.40 per 
share in cash. The Boards of Directors of both Randstad and Monster have unanimously approved the 
terms of the merger agreement, and the Board of Directors of Monster has resolved to recommend that 
shareholders accept the offer, once it is commenced. The consideration represents a 22.7% premium to 
Monster’s closing stock price on August 8, 2016, the last trading day prior to today’s announcement and a 
30.1% premium to the 90 day volume weighted average stock price. The purchase price implies an 
enterprise value to LTM 6/30/2016 Adjusted EBITA multiple of 8.9x (excluding stock based 
compensation) and 10.3x (including stock based compensation). The acquisition is structured as an allcash 
tender offer for all outstanding issued common stock of Monster followed by a merger in which 
remaining shares of Monster would be converted into the same U.S. dollar per share consideration as in 
the tender offer. The transaction does not have a financing condition and is expected to be completed in 
the fourth quarter of 2016, subject to regulatory approvals.
Financing and Approvals 
Randstad intends to finance the acquisition through its existing credit facilities. The transaction is subject 
to the satisfaction of customary closing conditions, including the tender of the majority of the outstanding 
Monster shares and the expiration or earlier termination of the waiting period under the Hart-Scott-Rodino 
Antitrust Improvements Act of 1976 and the approval of the European Commission (or the approval by 
those national competition authorities in the European Union that have jurisdiction as a result of a referral 
of the transaction under the EU Merger Regulation (Council Regulation 139/2004 of the European Union)) 
of the transaction pursuant to the EU Merger Regulation. Monster is expected to be delisted from the 
NYSE and integrated into Randstad thereafter.
Randstad M&A Update 
Randstad has used M&A to accelerate its strategy during the last nine months. Randstad’s balance sheet 
is expected to remain solid after the closing of the recent string of acquisitions (Net Debt/EBITDA will 
remain well below 1.5x, compared to its policy to remain below 2x). The cumulated impact of M&A, 
announced during the last nine months, on Randstad's revenue will be ~ € 2 billion on an annualized 
basis. The main focus for Randstad going forward with respect to acquired companies will be on 
integration and implementation. As such Randstad will reduce the pace of M&A and it is expected to limit 
this in the medium term to around € 100 million.
Advisors 
Wells Fargo Securities is serving as exclusive financial advisor to Randstad and Jones Day is serving as 
legal counsel. Evercore Group L.L.C. is serving as exclusive financial advisor to Monster and Dechert 
LLP is serving as legal counsel.
About Randstad 
Randstad specializes in solutions in the field of flexible work and human resources services. Their 
services range from regular temporary staffing and permanent placements to Inhouse Services, 
Professionals, Search & Selection, outplacement, and HR Solutions. Randstad Group is one of the 
leading HR services providers in the world, with top-three positions in Argentina, Belgium & Luxembourg, 
Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, 
Switzerland, the UK, and the United States, as well as major positions in Australia and Japan. In 2015, 
Randstad had approximately 29,750 corporate employees and around 4,473 branches and Inhouse 
locations in 39 countries around the world. Randstad generated revenue of € 19.2 billion in 2015.  
Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is 
listed on the Euronext Amsterdam, where options for stocks in Randstad are also traded. For more 
information, see www.randstad.com
About Monster Worldwide 
Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they 
are. For more than 20 years, Monster has helped people improve their lives with better jobs, and 
employers find the best talent. Today, the company offers services in more than 40 countries, providing 
some of the broadest, most sophisticated job seeking, career management, recruitment and talent 
management capabilities. Monster continues its pioneering work of transforming the recruiting industry 
with advanced technology using intelligent digital, social and mobile solutions, including our flagship 
website Monster.com® and a vast array of products and services. For more information visit 
www.monster.com/about.
Additional Information
This press release and the description contained herein is for informational purposes only and is not a
recommendation, an offer to buy, or the solicitation of an offer to sell any shares of Monster’s common 
stock. The tender offer referenced in this press release has not commenced. Upon commencement of the 
tender offer, Randstad North America, Inc. and its wholly-owned subsidiary, Merlin Global Acquisition, 
Inc. (“Merger Sub”), will file with the U.S. Securities and Exchange Commission (the “SEC”) a Tender 
Offer Statement on Schedule TO containing an offer to purchase (the “Offer to Purchase”), a form of letter 
of transmittal (the “Letter of Transmittal”) and other related documents and, thereafter, Monster will file 
with the SEC a Solicitation/Recommendation Statement on Schedule 14D9 with respect to the tender 
offer. Randstad, Merger Sub and Monster intend to mail documents to the shareholders of Monster. 
THESE DOCUMENTS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, 
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER AND MONSTER 
SHAREHOLDERS ARE URGED TO READ THEM CAREFULLY WHEN THEY BECOME AVAILABLE. 
Shareholders of Monster will be able to obtain a free copy of these documents (when they become 
available) and other documents filed by Monster, Randstad or Merger Sub with the SEC at the website 
maintained by the SEC at www.sec.gov. In addition, shareholders of Monster may obtain a free copy of 
these documents (when they become available) by visiting the “Investors” section of Monster’s website at 
http://ir.monster.com/.;

The Offer to Purchase is not being made to holders of (nor will tenders be accepted from or on behalf of 
holders of) shares of Monster’s common stock in any jurisdiction in which the making of the Offer or the 
acceptance thereof would not be in compliance with the securities, blue sky or other laws of such 
jurisdiction. In those jurisdictions where applicable laws or regulations require the Offer to Purchase to be 
made by a licensed broker or dealer, the Offer to Purchase shall be deemed to be made on behalf of 
Merger Sub by one or more registered brokers or dealers licensed under the laws of such jurisdiction to 
be designated by Merger Sub or Randstad.

Forward-Looking Statements 
The statements included in this press release contain forward-looking statements, which are generally 
statements that are not historical facts. Forward-looking statements can be identified by the words 
“expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. 
Forward-looking statements are based on management’s current plans, estimates, assumptions and 
projections, speak only as of the date they are made and include without limitation statements regarding 
the planned completion of the tender offer and the merger, statements regarding the anticipated filings 
and approvals relating to the tender offer and the merger, statements regarding the expected completion 
of the tender offer and the merger and statements regarding the ability of Merger Sub to complete the 
tender offer and the merger considering the various closing conditions. Randstad and Monster undertake 
no obligation to update any forward-looking statement in light of new information or future events, except 
as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most  
of which are difficult to predict and are generally beyond the control of either company, including the 
following: (a) the occurrence of any event, change or other circumstance that could give rise to the 
termination of the merger agreement; (b) the inability to complete the transaction due to the failure to 
satisfy conditions to the transaction; (c) the risk that the proposed transaction disrupts current plans and 
operations; (d) difficulties or unanticipated expenses in connection with integrating Monster into 
Randstad; (e) the risk that the acquisition does not perform as planned; and (f) potential difficulties in 
employee retention following the closing of the transaction. Actual results or outcomes may differ 
materially from those implied by the forward-looking statements as a result of the impact of a number of 
factors, many of which are discussed in more detail in the public reports of each company filed or to be 
filed with the SEC or the Amsterdam Stock Exchange.

Contacts: 
For Randstad: Randstad Investors: 
Arun Rambocus (Director Investor Relations) 
+31 20 569 5940 
+31 6206 18370 (Mobile + WhatsApp) 
arun.rambocus@randstadholding.com

For Randstad Media: 
Machteld Merens (Director Group Communications) 
+31 20 569 1732 
machteld.merens@randstadholding.com

For Monster Investors: 
Bob Jones 
(212) 351-7032 
bob.jones@monster.com

For Monster Media: 
Matt Anchin 
(212) 351-7528 
matt.anchin@monster.com

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