12th Apr 2023 17:42
(Alliance News) - Purplebricks Group PLC on Wednesday said it has extended the deadline for online estate agent Strike Ltd to make an offer for the company.
The deadline for Strike to announce a firm intention to make an offer for the company is now May 10.
In March, Purplebricks confirmed talks with Strike regarding a potential offer. On Wednesday, Purplebricks said discussions between the two firms remain "ongoing" and said, to allow further time for these discussions to continue, it has agreed to extend the deadline by which Strike must make an offer.
Strike is not currently participating in the formal sale process.
Purplebricks added that it has also progressed into "a more targeted phase of detailed diligence and discussions with credible bidders." It added it would provide a further update in due course.
Purplebricks is an online estate agent based in Solihull, England. Shares in the firm closed down 1.9% on Wednesday in London.
By Heather Rydings, Alliance News senior economics reporter
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