Alphawave still in takeover talks with Qualcomm, extends PUSU deadline for fifth time

(Sharecast News) - Alphawave IP has extended its takeover deadline for Qualcomm for the fifth time in as many weeks, giving the American chip giant another four days to decide whether or not to pursue an acquisition. After confirming that takeover discussions were taking place on 1 April, the UK-listed semiconductor group has repeatedly pushed back the so-called 'put up or shut up' deadline - originally set as 29 April.

The most recent extension, on Monday, saw the deadline pushed back by just three days to 5 June. Alphawave has now extended the deadline to 9 June, it confirmed on Thursday.

"Alphawave and Qualcomm remain engaged in discussions in respect of a possible offer. Accordingly the Board of Alphawave and the Panel on Takeovers and Mergers have consented to an extension of the PUSU Deadline," Alphawave said in another regulatory filing, almost identical to the past four extension announcements.

The stock was rising nearly 4% to 146.7p by 0927 BST, having now surged 57% since takeover talks first began.