EQT bid deadline for Dechra Pharmaceuticals pushed back

Dechra Pharmaceuticals said on Thursday that a deadline for Swedish private firm EQT to either announce a firm intention to make an offer for the company or walk away has been extended.

The veterinary pharmaceuticals group announced in April that it had entered into talks with EQT about a possible £4.6bn takeover bid. The ‘put up or shut up’ deadline for EQT was originally Tuesday 11 May, but this has been pushed back to 2 June.

"With the support of Dechra's management and board, EQT has made substantial progress towards completing its confirmatory due diligence and preparing the documentation necessary to implement a firm offer," Dechra said.