9th Oct 2013 12:40
LONDON (Alliance News) - 600 Group PLC Wednesday said talks about the approach from Qingdao D&D Investment Group Co. Ltd were ongoing, with the offer deadline being extended to November 6.
Under UK takeover rules, Qingdao must now make a firm offer by 5 pm on November 6 or walk away.
600 Group is a manufacturer and distributor of machine tools. Qingdao D&D Investment Group is a Chinese company with a portfolio of companies operating in sectors including tools like metalworking and woodworking machines.
The original deadline was originally set for Wednesday October 9.
600 Group shares were Wednesday quoted at 17.12 pence, up 0.75 pence, or 4.6%.
By Samuel Agini; [email protected]; @samuelagini
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