Global - Swiss recruitment firm Adecco says it is still open to the option of launching a hostile bid for rival company Michael Page.

This follows Michael Page's rejection of Adecco's 1.3 billion pounds (S$3.42 billion) offer last week, saying the bid was "undervaluing" the company and its prospects.

According to The Financial Times, this takeover may be an indication of the slowing European market, which has led to a decrease in the number of job searches needed.