31st Mar 2014 13:56
LONDON (Alliance News) - Pochin's PLC Monday said it has once again extended the deadline to allow takeover discussions with Property Development Director James Nicholson and members of the Cedric Pochin concert party.
The civil engineering and property letting company said that discussions are still ongoing, and the new deadline either to announce a firm intention to make an offer for the company or announce that it does not intend to make an offer is April 28.
Pochin's said that it remains in the best interest of shareholders for discussions to continue, but there is no guarantee of an offer at this point.
In December, Pochin's said an indicative cash offer, with a share alternative, was around 40 pence per share.
Since then, the company has extended the takeover offer deadline four times as it continues talks.
Pochin's shares were down 1.2% to 38.52 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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