Hays Rises as Much as 4.9% on Report of Possible Adecco Bid

Hays Plc (HAS) rose as much as 4.9 percent in London trading after a report that Adecco SA (ADEN) may be preparing a bid.

Adecco may be lining up a cash bid of 2.2 billion pounds ($3.6 billion), or 160 pence per share, the Daily Mail reported, without saying where it got the information.

Stephan Howeg, a spokesman for Glattbrugg, Switzerland- based Adecco, declined to comment by phone. Chief Executive Officer Patrick de Maeseneire said May 10 that the company had 150 million euros ($217 million) budgeted for acquisitions.

Hays shares were trading at 109.2 pence, up 2.9 percent, at 8:35 a.m. London time.

To contact the reporter on this story: Thomas Mulier in Geneva at tmulier@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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