LONDON (AFX) - The UK Takeover Panel said it extended the deadline for Castle Bidco, a consortium of HBOS PLC and Scottish financier Sir Tom Hunter, to issue a formal offer for housebuilder Crest Nicholson PLC until 5.00 pm tomorrow.
'No extension to the revised deadline will be granted, except with the consent of the Panel Executive,' it said.
The deadline had already been extended once before until 5.00 pm today.
Crest and Castle are in talks about the latter making a formal 629.7 pence per share offer, which Crest's board said it intends to recommend to shareholders. Crest previously rejected a 585 pence a share offer from Castle. newsdesk@afxnews.com jc/tc COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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