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UPDATE: Nakama Group Slides As Both Potential Bidders Walk Away

Wed, 12th Feb 2014 13:06

LONDON (Alliance News) - Shares in recruitment company Nakama Group PLC fell Wednesday after both Talent International Holdings Pty Ltd and The ReThink Group PLC said they don't intend to make a takeover offer for the company.

Nakama shares had soared January 22 when it said it was in talks with the two companies about a potential takeover offer for the company. The companies had until February 19 to make a firm offer or walk away.

Talent didn't say why it had walked away Wednesday, while ReThink said that the talks revealed on January 22 were at a very early stage and had not progressed since, meaning it decided not to make an offer.

Nakama shares were down 8.8% at 2.85 pence Wednesday afternoon, having fallen to a low for the day of 2.50 pence in early trade.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

Copyright © 2014 Alliance News Limited. All Rights Reserved.

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