JTC extends takeover talks with Warburg Pincus

(Sharecast News) - JTC has extended possible takeover talks with suitor Warburg Pincus, the fund solutions provider confirmed on Friday.

The FTSE 250 firm first announced last month that it was holding takeover discussions with the private equity firm, having rebuffed a previous approach.

Under City rules, New York-based Warburg had until 1700 BST on Friday to make a firm offer or walk away - a so-called put up or shut up deadline.

However, JTC said discussions remained "ongoing" and it had therefore sought - and been given - approval from the Takeover Panel to extend the deadline.

Warburg now has until 1700 BST on 24 October to make a firm offer.

However, JTC noted: "There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any such offer might be made."

JTC is also holding talks with British private equity firm Permira. Its put up or shut up deadline falls at the end of October.