Australia's Seek hits near 25-week high on $30 mln bid for Xref

SEEK

14/10/2024 01:54

** Shares of Seek  SEK.AX  rise as much as 2.1% to A$25.49,
their highest level since April 24, after an indicative proposal
for recruitment technology company Xref  XF1.AX 
    ** Shares of Xref rise as much as 59.3% to hit their highest
level since Aug 24, 2023
    ** Online jobs portal Seek says indicative proposal implies
enterprise value of A$45 mln ($30.32 mln) for Xref
    ** Xref says its board unanimously determined to support the
indicative proposal
    ** Shares of SEK down 6.6% this year, as of last close,
while Xref was down 3.6%
   
($1 = 1.4843 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))