Impellam Group Agrees to £483.2 Million Takeover Bid

Shares in Impellam Group saw an increase following the company's acceptance of a £483.2 million takeover bid by Heather Global and HeadFirst Global.

At 0856 GMT, shares surged by 34% to 870 pence, up 220 pence.

Impellam, a recruitment company listed in London, announced on Wednesday that its shareholders would receive a total of 1,084.4 pence for each share held, representing a significant 67% premium compared to Tuesday's closing price of 650 pence. This price includes 557.2 pence in cash and 392.8 pence in loan notes.

In addition to the takeover bid, shareholders will also be entitled to receive the interim dividend of 55.9 pence declared by Impellam on November 8th. Furthermore, the company's board plans to declare an additional cash dividend of 22.4 pence per share.

Talks regarding the takeover had commenced in early July, with no financial details being disclosed at the time.

HeadFirst Global owns Beryllium BV, a shareholder of the international human-resources services platform HeadFirst Group.

According to Impellam, the merger with HeadFirst will result in a market-leading, digitally enabled service offering with enhanced global reach. The company believes that this development will benefit all stakeholders including employees, customers, candidates, and suppliers.