Seek’s hopes of acquiring workplace software player Xref have collapsed after shareholders in the smaller company rejected a $41 million takeover offer despite the endorsement of the board and an independent expert.
The online job listing platform, led by former Commonwealth Bank chief executive Ian Narev, offered 21.8¢ a share for Xref in October. It hoped to use the tools offered by Xref’s software, which assist with checking references, to help its customers vet candidates during the hiring process.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
