April 8 (Reuters) - APM Human Services International ( APMHF )

said on Monday its largest shareholder Madison Dearborn

Partners had offered to acquire all shares of the Australian

employment services firm it does not already own for A$1.28

billion ($841.09 million).

The offer is for A$1.40 per share, a 14.1% discount to APM's

last closing price on March 26, and lower than previous suitor

CVC Asia Pacific's final offer of A$2.00 apiece.

U.S. private equity firm Madison Dearborn already owns more

than a 29% stake in the company.

The development comes after private equity firm CVC Asia

Pacific failed to finalize its A$1.83 billion ($1.20 billion)

takeover offer for APM at the end of a four-week exclusivity

period.

CVC had

sweetened

its offer to A$2.00 per share after APM rejected the

private equity firm's initial A$1.60 apiece offer saying that

the bid did not "sufficiently reflect its fundamental value".

($1 = 1.5218 Australian dollars)