Deadline extended for Serica, EnQuest merger talks

(Sharecast News) - Serica said on Friday that the deadline by which EnQuest was meant to either announce a firm intention to make an offer or walk away has been extended amid ongoing talks. The oil and gas exploration and production company announced on 7 March that it was in discussions with EnQuest about a possible combination.

Under UK takeover rules, EnQuest had until the end of play on Friday to make a move. However, this has now been extended until 2 May.

"Discussions between Serica and EnQuest remain ongoing," the company said. It added that there can be no certainty either that an offer will be made, nor as to the terms on which such offer will be made.

"A further announcement will be made when appropriate," Serica said.