Impellam Group, the 19th-largest staffing firm in the world, extended HeadFirst Global’s deadline to make an offer to buy the firm.
HeadFirst now has until 5 p.m. London time on Aug. 11 to make an offer or report that it does not intend to make an offer, although the deadline is subject to further extensions, according to a regulatory filing by UK-based Impellam on the London Stock Exchange.
The company first announced it was in talks with HeadFirst regarding an acquisition in early July, and the original deadline for an offer was Aug. 1.
Impellam’s board noted there is no certainty that an offer will be made nor whether the terms of such an offer would be acceptable to the company.
Discussions with HeadFirst over an acquisition follow several changes at Impellam. Majority shareholder Lord Michael Ashcroft said in April 2022 that he would sell his stake in the company. Subsequently, Impellam last year sold its Corestaff light industrial brand to Swipejobs Inc. in a $19 million deal. This year, Impellam announced the sale of its healthcare and specialist staffing businesses to Twenty20 Capital in a $102.2 million deal. The healthcare business included its Medacs Global Group operations in the UK, Ireland and Asia Pacific. The specialist staffing business included the UK brands Tate, Blue Arrow Group, Chadwick Nott and Career Teachers.