Business
Seek rejects Blue Orca claims as ‘exaggerated’, activist returns – The Australian Financial Review
On a day when Seek said very little, it seems to have withstood the worst of Blue Orca’s follow-up report that cast doubt on Zhaopin’s cash balance.
“If Zhaopin has really generated so much free cash flow, why doesnt it pay dividends upstream to help Seek service or pay down its near toxic levels of debt?”
Monday was the first time Seek traded since Thursday’s session, when Blue Orca’s report shaved nearly 6 per cent off the company’s share price, to $21.51.
We accept that market participants have different opinions, however this report is littered with inaccuracies. We are well positioned for future growth and remain confident in Seeks long-term…
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