Anexo further extends deadline for potential takeover

(Sharecast News) - Anexo Group announced a two-week extension to the deadline for a potential takeover offer by DBAY Advisors and Anexo executives Alan Sellers and Samantha Moss on Tuesday. The AIM-traded firm said the revised deadline, approved by the UK Takeover Panel, now extended to 1700 BST on 1 July.

It said the extension followed ongoing discussions between the company and the joint bidders regarding a non-binding indicative proposal to acquire the entire issued and to-be-issued share capital of Anexo not already owned by them.

The proposal would be made through a newly-incorporated entity jointly controlled by funds managed or advised by the joint bidders.

It was the second extension of the offer period, with the original deadline having been set for 17 June.

The company stressed that it still did not have a firm offer under the Takeover Code rules, adding that there was no certainty a formal bid would be made or what the terms could be.

Anexo remained in an 'offer period' under the code.

At 1141 BST, shares in Anexo Group were down 0.25% at 67.33p.

Reporting by Josh White for Sharecast.com.