Oxford Biomedica extends 'put up or shut up' deadline as EQT talks continue

(Sharecast News) - Oxford Biomedica said on Wednesday that the deadline for EQT to make a formal takeover bid has been extended amid ongoing preliminary discussions. The biotechnology firm announced in January that it had received an unsolicited approach from Swedish private equity firm EQT.

Under UK takeover rules, EQT initially had until 1700 GMT on Wednesday to either announce a firm intention to make an offer or walk away. This 'put up or shut up' deadline has now been extended until 25 February on OXB's request.

"There can be no certainty that an offer will be made, nor as to the terms at which a firm offer might be made," OXB said, adding that a further announcement will be made when appropriate.

At 1545 GMT, the shares were up 1.6% at 839p.