Michael Page still in Adecco's sights

Michael Page, the accountancy recruitment specialist, saw its share price climb yesterday after Swiss firm Adecco refused to rule out a hostile takeover.

Michael Page has already rejected one offer from Adecco of 400p per share.

Michael Pages share price closed yesterday (Monday) at 342.5p after it closed on Friday last week at 317.5p.

Results for Michael Page showed yesterday that for the six months to end of June pre tax profits were up 22% to £84.1m.

The Financial Times reported that chief executive Steve Ingham had said conditions were worsening in the UK and the US.