UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of
the Securities Exchange Act of 1934
_________________
|
Date of Report |
|
|
(Date of earliest |
|
event reported): |
October 2, 2007 |
Hudson Highland Group, Inc.
|
(Exact name of registrant as specified in its charter) |
Delaware
|
0-50129
|
59-3547281
|
(State or other |
(Commission File |
(IRS Employer |
jurisdiction of |
Number) |
Identification No.) |
incorporation) |
560 Lexington Avenue, New York, New York 10022
|
(Address of principal executive offices, including zip code) |
(212) 351-7300
|
(Registrants telephone number, including area code) |
_________________
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
[ ] |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
[ ] |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 1.01. |
Entry
into a Material Definitive Agreement. |
On
October 2, 2007, Hudson Trade and Industrial Services Pty Limited, Hudson Trade and
Industrial Solutions Pty Limited, Hudson Global Resources (Aust) Pty Limited
(collectively, Hudson Australia), subsidiaries of Hudson Highland Group, Inc.
(the Company), entered into a Business Acquisition Agreement (the
T&I Agreement), dated October 2, 2007, with Skilled Group Limited
(Skilled). Pursuant to the T&I Agreement, Hudson Australia agreed to sell
(the T&I Sale) its Australian blue-collar trade and industrial business to
Skilled for Australian $3.4 million (approximately U.S. $3.0 million) in cash, subject to
adjustment for the amount of certain employee entitlements as set forth in the T&I
Agreement. Hudson will also retain approximately $4.0 million in net assets, primarily receivables.
The
Agreement contains customary representations and indemnification obligations of Hudson
Australia and generally provides that Hudson Australia will retain those liabilities of
T&I that are not reflected on its balance sheet. The T&I Sale is expected to be
completed by October 29, 2007 subject to customary closing conditions. Copies of the
T&I Agreement and a press release the Company issued on October 2, 2007, announcing
the entry into the T&I Agreement are filed herewith as Exhibits 10.1 and 99.1,
respectively, and are incorporated herein by reference.
Item 9.01. |
Financial
Statements and Exhibits. |
|
(d) |
Exhibits.
The following exhibits are being filed herewith: |
|
10.1 |
Business
Acquisition Agreement, dated as of October 2, 2007, among Hudson Trade and Industrial
Services Pty Limited, Hudson Trade and Industrial Solutions Pty Limited, Hudson Global
Resources (Aust) Pty Limited and Skilled Group Limited [Certain schedules and exhibits to
this document are not being filed herewith. Hudson Highland Group, Inc. agrees to furnish
supplementally a copy of any such schedule or exhibit to the Securities and Exchange
Commission upon request.] |
|
99.1 |
Press
Release of Hudson Highland Group, Inc. issued on October 2, 2007. |
-2-
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
HUDSON HIGHLAND GROUP, INC. |
Date: October 2, 2007 |
By: /s/ MARY JANE RAYMOND |
|
Mary Jane Raymond |
|
Executive Vice President and |
|
Chief Financial Officer |
-3-
HUDSON HIGHLAND GROUP,
INC.
Exhibit Index to
Current Report on Form 8-K
Exhibit
Number
10.1 |
Business
Acquisition Agreement, dated as of October 2, 2007, among Hudson Trade and Industrial
Services Pty Limited, Hudson Trade and Industrial Solutions Pty Limited, Hudson Global
Resources (Aust) Pty Limited and Skilled Group Limited [Certain schedules and exhibits to
this document are not being filed herewith. Hudson Highland Group, Inc. agrees to furnish
supplementally a copy of any such schedule or exhibit to the Securities and Exchange
Commission upon request.] |
99.1 |
Press
Release of Hudson Highland Group, Inc. issued on October 2, 2007. |