Global gets short extension to GCap talks
LONDON - The Takeover Panel has given Global Radio an extra five days, two less than it wanted, to make a firm offer for GCap Media or walk away.
The extension to today's deadline was made on the request of GCap, demonstrating its resistance to its suitor's attempts to push the deadline back until April 2.
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Instead Global has got until 5pm on March 31, next Monday, to complete its due diligence on the planned £370m acquisition.
Global had to raise its original December 190p per share offer to 225p earlier this month in order to bring GCap to the negotiating table.
GCap: in talks with Global
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