WEBVTT - Intertek Rises, ABN Amro Jumps, Adecco Plunges 

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>So let's take a look at some of the stocks

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<v Speaker 3>that are on the move. Stay in Europe. I'm Tia

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<v Speaker 3>Adibaya with Stephen Carroll and we're joined by Bloomberg's Breaking

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<v Speaker 3>News editor Louise Moon. Louise. Inter Tech is on the

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<v Speaker 3>move this morning. It's Boord saying they are inclined to

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<v Speaker 3>recommend Swedish private equity firm eqt's offer to buy the

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<v Speaker 3>British product testing firm. What's the latest move.

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<v Speaker 1>Yeah, so shares rising on the back of this, rose

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<v Speaker 1>as much as eight percent this morning. They've already shot

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<v Speaker 1>up since eqt's first bid, which was announced early April.

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<v Speaker 1>So in terms of share price, it's closing in on

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<v Speaker 1>the gap of the amount with the takeover proposal that

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<v Speaker 1>this recent one that reached as much as fifty seven

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<v Speaker 1>pounds per share this morning. So as you say, they're

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<v Speaker 1>leaning towards accepting eqt's bid. This is their fourth and

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<v Speaker 1>they've said final bid for inter Tech. Intertex's rejected all

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<v Speaker 1>the other three bids undervaluing it in their words, So

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<v Speaker 1>the first one began at about fifty one pounds fifty

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<v Speaker 1>per share and then they've steadily increased since then. As

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<v Speaker 1>I say, this one sixty pounds a share and that

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<v Speaker 1>values it at about nine point two billion pounds. So

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<v Speaker 1>it's a bit of a change of heart from inter Tech.

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<v Speaker 1>They've come under quite a lot of pressure from investors,

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<v Speaker 1>particularly activist investors. So shareholders that represent about ten percent

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<v Speaker 1>of Intertech have been urging them to talk to EQT,

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<v Speaker 1>and they because because you know that they're supportive of

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<v Speaker 1>this takeovers that includes the likes of Pallazer Capital, Harris Associates,

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<v Speaker 1>Lost Coast Collective all us. Lost Coast Collective was actually

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<v Speaker 1>set up by Nelson Peltz's son, So they've been urging

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<v Speaker 1>Intertech to engage with EQT, and now they are leaning

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<v Speaker 1>towards accepting that. So the deadline for a firm offer

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<v Speaker 1>is June eleventh, so until then we'll be keeping an

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<v Speaker 1>eye as to whether this will actually go through. Of course,

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<v Speaker 1>that would mean another loss of a London listed stock

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<v Speaker 1>being taken private.

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<v Speaker 2>Okay, So that's on Intertech and let's go to banks next.

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<v Speaker 2>ABM Amro reporting in the Netherlands.

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<v Speaker 1>Yeah, they had their quarterly results and shares have jumped

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<v Speaker 1>in Amsterdam. So quarterly profits be expectations. That's on particularly

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<v Speaker 1>on the back of their feet young income which surged.

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<v Speaker 1>They also improve guidance for costs in the full year

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<v Speaker 1>and so a positive set of results, essentially showing that

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<v Speaker 1>their transformation is paying off. The CEO has been at

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<v Speaker 1>the Helm for about a year and she's been doing

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<v Speaker 1>a whole host of transformation efforts, so cutting costs, pulling

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<v Speaker 1>back from less profitable businesses, cutting jobs, bolstering their presence

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<v Speaker 1>in the retail banking space. So Alys is saying that

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<v Speaker 1>these set of results are showing that she's executing rapidly

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<v Speaker 1>on her targets, so doing well and that's being reflected

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<v Speaker 1>in the numbers today.

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<v Speaker 3>Okay, and lastly, Louise a deco, it's hit a ninety

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<v Speaker 3>teen ninety three low this morning. That's before I was born.

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<v Speaker 3>What has prompted such a big beeve tell us why?

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<v Speaker 1>Yeah, pretty shocking down as not just thirteen percent shares.

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<v Speaker 1>This is the Swiss recruiter disappointing margins in their first quarter,

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<v Speaker 1>warning that this will contract further in the second quarter,

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<v Speaker 1>so Bloomberg Intelligence saying their profitability is still being squeezed

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<v Speaker 1>and that might stick structural concerns in the wider sector.

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<v Speaker 1>So peers are also lower on the back of a

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<v Speaker 1>deco's of results this morning, so they likes in London

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<v Speaker 1>of Hayes and Page Group fellow recruiters. Obviously, the space

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<v Speaker 1>has been facing a lot of headwinds for a while,

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<v Speaker 1>companies cutting back on hiring, partly due to geopolitical economic concerns.

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<v Speaker 1>There's the rise of AI which is also impacting hiring levels.

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<v Speaker 1>So yeah, some disappointing margin numbers from them this morning,

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<v Speaker 1>and as you say, shares hitting a nineteen ninety three low.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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