Australia's Xref falls as proposed buyout by Seek falls through

SEEK

04/02/2025 24:15

** Shares of recruitment technology company Xref  XF1.AX 
drop as much as 24.2% to A$0.118, their lowest since April 15
    ** Co terminates scheme under which online employment
marketplaces co Seek  SEK.AX  proposed to acquire Xref for
A$0.218 cash per share
    ** Only 67.6% of votes cast by Xref shareholders were in
favour of the deal, failing to meet the minimum 75% approval
criteria
    ** Seek's shares fall up to 1.5% to A$22.72
    ** As of last close, XF1 stock was down 27.9% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))