JTC extends takeover deadline for Permira, Warburg Pincus for third time

(Sharecast News) - JTC has extended takeover talks with Permira Advisers and Warburg Pincus for the third time, as the fund solutions provider continues to to engage in discussions with the private equity firms. On 12 September, the company confirmed received a preliminary and conditional non-binding takeover proposal from Warburg Pincus as well as a revised offer from Permira, having rejected earlier approaches from both parties over recent months.

After extending the so-called 'put up or shut up' deadline already on 26 September and 10 October, JTC has once again delayed PUSU requirements to 24 October, by which both parties must either announce a firm intention to make an offer or walk away.

"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 said in a statement on Friday.

"Further announcements will be made as and when appropriate."