CVC consortium gets deadline extension for Network International bid
Network International Holdings
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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.
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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’.