(Alliance News) - Dechra Pharmaceuticals PLC on Thursday said it pushed back its put-up-or-shut-up deadline by three weeks for EQT X EUR SCSp and EQT X USD SCSp's possible takeover of the Cheshire-based veterinary pharmaceutical company.
EQT X EUR SCSp and EQT X USD SCSp are represented by EQT Fund Management.
Dechra said the bid deadline has been extended to June 2, and noted that EQT has made substantial progress on its confirmatory due diligence.
The deadline extension comes after Dechra entered into discussions with EQT for a possible cash offer of the veterinary pharmaceutical company. Under the terms of the cash offer, Dechra shareholders would receive 4,070 pence per ordinary share in cash.
Dechra said there is no certainty that a firm offer will be made.
Shares in Dechra were up 1.2% at 3,756.80 pence each in London on Thursday morning.
By Sabrina Penty; Alliance News reporter
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