Recruitment group Premier has entered the bidding war for UK recruitment company Imprint. It has made an approach worth around £45.2m (€60m) in cash for the company.
Earlier this month, Imprint's board backed an offer from Hydrogen. The Hydrogen bid was a mix of cash and shares, and Premier says its proposal is worth 15% more, based on the current Hydrogen share price.
Set up in 1988, Premier employs 350 people and has 18 offices in Ireland and the UK. It had turnover of €85m last year.
It is planning to offer 115p per share for Imprint, compared with Monday's 105p closing price.
In a response, Imprint's board said it would look into the implications of adjourning an EGM of the company planned for Friday, but it was still recommending the Hydrogen offer.
It said such an adjournment would allow Premier 'a limited period of time to decide whether or not it intends to put forward a formal offer'. Imprint's board said that, in order to consider recommending the Premier plan, it would need to be 'convinced as to its deliverability'.
