Advanced Medical Solutions gets extension to deadline for H.B. Fuller bid

(Sharecast News) - Advanced Medical Solutions said on Thursday that the deadline for US adhesives maker H.B. Fuller to make a takeover offer has been extended as the two are still in talks. The AIM-listed medical supplier announced last month that it had received an unsolicited takeover proposal from H.B. Fuller.

Confirmation of the approach came just days after private equity firm TA Associates said it was not planning to make an offer for the company.

Under UK takeover rules, H.B. Fuller had until 1700 BST on Thursday to either announce a firm offer or walk away.

"Discussions between the parties remain ongoing," AMS said in a statement on Thursday. As a result, the board has requested and been granted an extension to the 'put up or shut up' deadline and H.B. Fuller now has until 1700 BST on 2 July.

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

At 1403 BST, the shares were down 2.2% at 222.06p.

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