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Temp Agency Adecco to Leave NYSE

Lora Bentley

One of the world's largest -- if not the largest -- temp agencies is the latest company to take advantage of the relaxed delisting requirements the Securities and Exchange Commission recently approved for foreign companies listed in the U.S. MSNBC reported yesterday that Adecco will request to be delisted from the New York Stock Exchange.

 

The company says it wants to delist because average daily trading in its U.S. shares accounts for a mere 2 percent of its total trading for the last two years. Adecco is only the second European company to seek delisting -- behind Germany's SGL Group.

 

MSNBC points out that Adecco was one of the first European companies to "fall foul" of Sarbox requirements, which led to several delayed financial statements, exorbitant accounting and public relations costs and, eventually, management changes.


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