LONDON (Alliance News) - Plastic products maker Carclo PLC said Monday it has secured an extension to the deadline for Consort Medical PLC to make a firm offer for the company.
The Panel on Takeovers & Mergers extended the deadline for drug and medical devices company Consort Medical to either make a firm offer for Carclo, or walk away, to August 13. Previously, Consort Medical was required to submit a firm offer by Monday next week.
Carclo earlier in July rejected a proposal regarding a possible offer from Consort Medical, which submitted a revised offer subsequently to Carclo. Discussions regarding the improved proposal are ongoing.
Shares in Carclo were trading 4.1% higher at 115.50 pence each. Consort Medical shares were un-traded at 1,114.00p each.