intelliHR (ASX:IHR) responds to revised 24 cent bid from Humanforce

intelliHR (ASX:IHR) has received a revised offer of 24 cents per share from Humanforce Holdings, up from The Access Group's (TAG) previous offer of 23.5 cents per share.

intelliHR is invoking a matching right procedure under its transaction implementation deed with TAG.

Until the company receives a response from TAG or the 5 business day matching period has elapsed without a response, the Independent Board Committee recommends shareholders take no action regarding Humanforce's bid.

Following the announcement, shares of intelliHR were up 8.7%.