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Here’s Why Staffline Share Price Rallied 19% Higher Today

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Updated: 20 August 2020

Shares of Staffline Group (LON: STAF) skyrocketed 19% higher amid rumours that a deep-pocketed firm was about to make a takeover offer for the company.

Staffline is a recruitment agency that specialised in connected employers with qualified employees by advertising positions and helping fill the same positions.

The company has a huge presence in the UK and Ireland where it serves some of the biggest companies in the region such as Tesco, Marks & Spencer, Boohoo and DHL.

According to the rumours, the potential buyer is likely to offer to buy Staffline shares at 70p per share, which is a 141% premium to its current trading price of 29p.

Staffline share price

Tradingview chart of Staffline share price 20082020

STAF shares today rallied 19% to trade at 30.95p having closed yesterday’s session trading at 26.0p