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Spring Group (SRG:AIM), the Human Resources and Staffing specialist firm, saw an increase in their share price by 23.2% to 46p after the group had announced that it had received a proposal for an all-cash takeover offer, the Financial Times writes today.
Any deal would hinge on the co-operation of Spring Group's largest shareholder ET Training, which holds a 35.9% stake. People familiar with the company played down speculation that ET Training itself was the bidder.
These latest developments follow past rumours that CEO Peter Searle, formerly of Adecco and Chairman Amir Eilo, who used to run a Credit Suisse private equity business had planned a management buyout.