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On Assignment, Inc. (ASGN)

  • Mar. 20, 2012, 6:24 PM
    On Assignment (ASGN) +20.6% AH after announcing it will merge with rival Apex Systems to form the #2 IT staffing firm in the U.S. On Assignment, which closed with a market cap of $504M, will "acquire" Apex for $383M in cash and $217M in newly-issued stock. The cash will come from a new $540M credit facility. The combined company is expected to have 2H revenue of $775M-$805M and EPS of $0.77-%0.87.
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Company Description
On Assignment Inc is a provider of skilled and professionals in the growing life sciences, healthcare, and technology sectors. It operates in four segments; Apex, Oxford, Life Sciences and Physician.