Alphawave extends Qualcomm PUSU deadline for second time

(Sharecast News) - UK-listed tech group Alphawave has confirmed that it is still engaged in talks with semiconductor giant Qualcomm about a possible takeover as the takeover panel extended the 'put up or shut up' deadline by two weeks.

Qualcomm first announced on 1 April that it was considering making an offer for Alphawave, which designs high-speed connectivity solutions for data centers, autonomous vehicles and 5G wireless infrastructure.

After extending the takeover deadline - by which Qualcomm is required either to announce a firm intention to make an offer or walk away - from 29 April to 12 May, Alphawave said the cutoff time has again been moved to 27 May.

"This deadline can be extended by the board of Alphawave with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code," Alphawave said on Monday.

"There can be no certainty that a firm offer will be made, nor as to the terms on which it will be made. A further announcement will be made as and when appropriate."

Alphawave shares have risen 41% since the start of April, settling at 131.93p on Friday.