EQT bid deadline for Dechra Pharmaceuticals pushed back
Dechra Pharmaceuticals
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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.
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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.