CVC consortium gets deadline extension for Network International bid

Network International said on Thursday that the ‘put up or shup up’ deadline for CVC Advisers and Francisco Partners has been extended as it remains in talks with the consortium.

The consortium originally had until 1700 BST today to either announce a firm intention to make an offer or walk away. However, that deadline has now been extended to 1 June.

The payments firm announced on 17 April that it had received a non-binding proposal from the consortium regarding a possible cash offer of 387p per share.

Later that month, Network International said it had received a "highly preliminary" 400p a share cash offer from Canada's Brookfield Asset Management, which has until 19 May to ‘put up or shut up’.