The deadline for a possible £4.6bn takeover of Dechra Pharmaceuticals has been extended.
Swedish private equity firm EQT is in talks with the Northwich-based vet products group over a possible all-cash takeover offer.
The news of the talks was first revealed on April 13 and EQT had a deadline of 5pm on May 11 to confirm if it intended to buy the business or not.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
However, Dechra Pharmaceuticals has now extended the deadline to 5pm on June 2.
The group said EQT has made "substantial progress towards completing its confirmatory due diligence and preparing the documentation necessary to implement a firm offer".
The deadline may be extended further if the London Stock Exchange's Takeover Panel consent.
If a firm offer is made, the private equities investment department – the Abu Dhabi Investment Authority PED – of the Abu Dhabi Investment Authority, would be a co-investor with EQT.
READ MORE:
