Alpha Group extends Corpay takeover deadline for second time

(Sharecast News) - Fintech and consultancy group Alpha has announced that it has extended the 'put up or shut up' deadline for American business payments and expense management firm Corpay by two and a half weeks. Corpay now has until 24 July to either announce a firm intention to make an offer or walk away.

This is the second extension of the takeover deadline after the company received a "preliminary and conditional all-cash proposal" from Corpay on 6 May.

"The board of Alpha has held constructive discussions with Corpay, which are advancing, and believes that it is in the best interests of shareholders to continue this engagement," a statement by Alpha said on Monday.

Shares were 1.4% higher at 3,335p by 0904 BST.