By Ian Walker
John Menzies PLC said Tuesday that the U.K. Takeover Panel has extended the deadline for National Aviation Services and Agility Public Warehousing Co. KSCP to either make an offer or walk away so that the companies can continue talks.
The U.K. aviation-services group–which said last month that it received an improved 558.8 million pounds ($732.3 million) takeover proposal that it would be prepared to recommend to shareholders–said the new deadline is March 30. This has been extended from March 9.
John Menzies cautioned that there is no certainty any firm offer will be made.
Under the latest proposal, NAS is offering 608 pence for each John Menzies share, up from a previous proposal of 605 pence.
Write to Ian Walker at [email protected]
By Ian Walker
John Menzies PLC said Tuesday that the U.K. Takeover Panel has extended the deadline for National Aviation Services and Agility Public Warehousing Co. KSCP to either make an offer or walk away so that the companies can continue talks.
The U.K. aviation-services group–which said last month that it received an improved 558.8 million pounds ($732.3 million) takeover proposal that it would be prepared to recommend to shareholders–said the new deadline is March 30. This has been extended from March 9.
John Menzies cautioned that there is no certainty any firm offer will be made.
Under the latest proposal, NAS is offering 608 pence for each John Menzies share, up from a previous proposal of 605 pence.
Write to Ian Walker at [email protected]
