The Takeover Panel has extended the deadline for Toscafund Asset Management, Penta Capital led by Daisy chief executive Matthew Riley to make an offer for the Daisy Group to 5 p.m. on 22 September. This is to allow the consortium to complete due diligence.
The consortium had previously been required to confirm whether it intended to make an offer by 5 p.m. today.
Speculations have continued since the news of a possible offer emerged. Crystal ball gazers have predicted an acquisition could follow further mergers of Six Degrees and Phonenix IT (part owned by Penta Capital and Toscafund) which would give the company a business offering and revenues that could rival Virgin Media.
Stay tuned for more updates soon…
You can meet Daisy Wholesale at the Convergence Summit South – http://south.convergencesummit.co.uk/