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Xref Ltd ( (AU:XF1) ) has provided an update.
SEEK Limited, a global leader in employment marketplace services, announced that Xref Limited did not receive enough shareholder support for a proposed scheme of arrangement for SEEK to acquire all Xref shares. Despite a unanimous recommendation from Xref’s Board and an Independent Expert’s assessment of fairness, the approval fell short of the 75% threshold, achieving only 67.60%. Consequently, SEEK and Xref have agreed to terminate the scheme implementation deed. SEEK plans to pursue other growth opportunities to achieve similar benefits that the acquisition would have provided.
More about Xref Ltd
YTD Price Performance: -4.65%
Average Trading Volume: 998,357
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$39.36M
For detailed information about XF1 stock, go to TipRanks’ Stock Analysis page.