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
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