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