(Il Sole 24 Ore Radiocor) - Milano, 11 set - UK recruitment company SThree said its board had unanimously rejected an approach by US-based Circle8, saying its takeover proposal significantly undervalued the company and its future prospects.

Circle8, a global technology platform that operates across North America and Europe, said earlier this week it had submitted a proposal for London-listed SThree.

It said a tie-up would significantly increase the group's international scale and speed up plans to develop its IT and technology platform.

Under UK takeover rules, Circle8 has until October 7 to announce a firm intention to make an offer for SThree or walk.

away.

(RADIOCOR) 11-09-26 17:00:36 (0518) 5 NNNN