Hunters and The Property Franchise Group (TPFG) have confirmed that talks about a takeover deal have once again been extended – until 5pm on Friday 29th January.
TPFG initially approached Hunters about a possible takeover on 4 December, and was given until 1 January to confirm its offer formally.
Hunters Property, at the end of December, said the start of January deadline was extended to 22 January.
On Friday, Hunters Property said negotiations with TPFG regarding a possible offer remain ongoing and, to allow more time for these discussions, Hunters has secured an extension to the deadline.
A statement from Hunters says: “Discussions with TPFG regarding a possible offer for the Company remain ongoing and, to allow further time for these discussions, the Board of Hunters has requested, and the Panel on Takeovers and Mergers (the “Takeover Panel”) has granted, an extension to the deadline for TPFG referred to above. Accordingly, TPFG must, by no later than 5.00 p.m. on 29 January 2021, either announce a firm intention to make an offer for Hunters in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended further with the consent of the Takeover Panel, at the Company’s request, in accordance with Rule 2.6(c ) of the Code.
“There can be no certainty that a formal offer will be made, nor as to the terms on which any such offer might be made. Further announcements will be made as appropriate.
“This announcement has been made with the consent of TPFG.”