APM enters trading halt ahead of CVC takeover update

The news: APM Human Services has entered a trading halt after receiving a letter from takeover suitor CVC Asia Pacific, advising the employment services firm that it is "unable to finalise a transaction" on terms consistent with their acquisition offer made last month.

The numbers: In February, shares in Perth-based APM had an intra-day rise of nearly 50% after its board rejected a takeover bid by private equity firm CVC. Shares were then buoyed again a few days later as CVC made an improved offer, hiking the bid from $1.60 cash per share to $2.00.

The context: The trading halt will continue until the earlier of either APM releasing an update or the commencement of trading on 2 April.